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IPO

AA+

Opening Date

07 Apr 2022

Closing Date

28 Apr 2022

Coupon Rate

Upto 8.00%

Tenure

Upto 120 Months

IPO Details

Issue Size (Including Green Shoe Option) ₹500.00 crores
Face Value ₹1000 per NCD
Minimum Number of Bonds 10 NCDs (Rs.10,000) & in multiple of 1NCD
Lot Size (Multiplier) 1
Allotment Date (Tentative) 05th May 2022
Listing Date (Tentative) 10th May 2022
Exchange Bid Time (24 Hours) 10:00 - 17:00

Documents attached

Information Memorandum

 

Bonds India
Product Note

 

Bonds India

*Allotment on first come first serve basis

ISSUE STRUCTURE

Series
I
II
III
IV
V
VI
VII
VIII
Frequency of Interest payment
Monthly
Monthly
Annually
Annually
Annually
Annually
NA
NA
Minimum Application
Rs 10000 (10 NCDs) across all Series
Face Value/Issue Price
Rs 1000
In multiples of thereafter
Rs 10000 (1 NCD)
Tenure
 
36 Months
60 Months
36 Months
60 Months
84 Months
120 Months
36 Months
60 Months
Coupon (%per annum) for NCD Holders in Category 1, 2, 3, & 4
6.50%
6.75%
6.75%
7.00%
7.25%
7.50%
NA
NA
Additonal Interest For Category 3 & 4
0.50%
0.50%
0.50%
0.50%
0.50%
0.50%
NA
NA
Additional Incentive On Base Coupon Rate (% Per Annum) On Any Record Date As Applicable To Category III And Category IV Investors
Effective Yield (Per Annum) For NCD Holders 1 & 2
6.50%
6.75%
6.75%
7.00%
7.25%
7.50%
6.75%
7.00%
Effective Yield (Per Annum) For NCD Holders 3 & 4
7.00%
7.25%
7.25%
7.50%
7.75%
8.00%
7.25%
7.50%
Mode of Interest Payment
Through various options availabe
Amount (NCD)On Maturity for NCD Holders For 3 & 4
1,000
1,000
1,000
1,000
1,000
1,000
1,233.65
1,435.63
Maturity / Redemption Date (years from the Deemed date of Allotment)
36
Months
60
Months
36
Months
60
Months
84
Months
120
Months
36
Months
60
Months
Put And Call Option
NA
NA
NA
NA
NA
NA
NA
NA

Why choose Bonds India?

Bonds India is an online platform for fixed-income securities such as IPOs, bonds, 54EC bonds, and fixed deposits. With a cumulative pedigree of 50+ years in the bond market, we aim to democratize the market for common investors by stationing detailed insights, expert advice, and keeping a close watch on the market sentiment. Bonds India brings up-to-date information when IPOs go live, fixed deposits with higher interests, and bonds with competitive price before anyone else.

BondsIndia ditches the traditional ways of investing by offering a blockchain-based platform for investors that ensures instant online settlements and reduces counter-party risks. Choose Bonds India for its sleek interface, fail-safe communication, and a step-by-step guide to ensure a well-placed bid. You can apply for Indiabulls Housing Finance IPO on BondsIndia’s website.

Place your bid in three simple steps:

1

Key in Basic Details

2

Choose the IPO Series

3

Place the bid

How to invest in the
MUTHOOT FINANCE LIMITED IPO?

Application process on Bonds India platform is simple and seamless.

  • Click on the details of the company on the home page
  • Fill in the Application form with the basic details such as Name, email address, mobile number, Pan details, bank, and Demat details
  • Then, confirm the quantity and price and select a payment method.
  • That’s all folks, bidding complete!

Reach out to on info@bondsindia.com for more questions. Thank you for tuning in with Bonds India.

AUM

Rs. 66,831.36 Crs

GNPA

3.80%

NPA

2.40%

  • MUTHOOT FINANCE LIMITED
    Muthoot Finance Limited (MFL) is the flagship company of the Kerala-based business house, It has diversified operations in financial services, healthcare, education, and hospitality. MFL was incorporated in 1997 and is India`s 2019s largest gold loan focussed NBFC with total loan assets (standalone) of Rs. 54,688 crore and 4,617 branches as of December 31, 2021. The company derives a major portion of its business from South India (50% of the total gold loan portfolio as of December 31, 2021), where gold loans have traditionally been accepted as a means of availing short-term credit, although it has increased its presence beyond South India over the last few years.

    MFL reported a standalone net profit of Rs. 2,994 crores on an asset base of Rs. 66,831 crores in 9M FY2022 against a net profit of Rs. 3,722 crores on an asset base of Rs. 63,465 crores in FY2021. The consolidated portfolio stood at Rs. 60,896 crores as of December 31, 2021, compared to Rs. 58,280 crores as of March 31, 2021 (Rs. 46,871 crores as of March 31, 2020), of which gold, housing, and microfinance accounted for 90%, 3%, and 6%, respectively.
  • Products Offered
    Gold Loans.
  • Established franchise and leadership position in the gold loan segment
    The company has a track record of around two decades in the gold loan business and is India`s largest gold loan focussed non-banking financial company (NBFC) with a total portfolio of Rs. 54,688 crores (of which 99% is gold loan) as of December 31, 2021; the portfolio grew by 8.5% on a year-on-year (YoY) basis. The consolidated portfolio stood at Rs. 60,896 crores in December 2021 compared to Rs. 55,800 crores in December 2020, of which gold, microfinance, and housing accounted for 90%, 6%, and 3%, respectively. As of December 31, 2021, the company has an extensive pan-India network of 4,617 branches; 60% of its branches are in South India, where it has an established franchise.
  • Track record of healthy earnings performance
    The company`s consolidated net profit remained healthy with the annualized PAT/AMA at 5.7% in 9M FY2022 and 6.1% in FY2021 (6.5% in FY2020). The consolidated net profit remained in the range of 5.5-6.5% between FY2018 and 9M FY2022. The annualized net interest margin was lower in 9M FY2022 and FY2021 at 10.7% and 11.4%, respectively, vis-a-vis ~13% and 12.9% in FY2020 and FY2019, respectively, because of the higher on-balance sheet liquidity as well as the reduction in loan yields.
  • Capitalization to remain comfortable over the medium term
    The Company has a comfortable capitalization profile with a standalone gearing of 2.8 times and 3.1 times as of December 31, 2021, and March 31, 2021 (3.2 times as of March 31, 2020), respectively, aided by good internal capital generation. The consolidated managed gearing stood at 3.0 times as of December 2021. The company`s 2019s standalone net worth was Rs. 17,412.2 crores as of December 31, 2021 (Rs. 15,238.9 crores as of March 31, 2021). The company is expected to be comfortably placed to meet the medium-term capital requirements of its subsidiaries without affecting its own capital structure.
  • Performance of non-gold segments to remain monitorable; sizeable share of gold loans would support overall portfolio quality
    The Company`s 2019s standalone portfolio almost entirely consists of gold loans, and it has diversified its exposure via its subsidiaries, namely Belstar Microfinance Limited (Belstar; microfinance), Muthoot Homefin (India) Limited (MHL; affordable housing), and Muthoot Money Limited (MML; vehicle finance). The consolidated portfolio is currently concentrated on gold loans, comprising 90% of the loan book while microfinance, affordable housing, and vehicle finance accounted for 6.3%, 2.6%, and 0.4%, respectively, as of December 31, 2021.
  • Operations concentrated in South India
    Profitability has been lower than those of other large, financial sector groups. It was significantly impacted in the last few quarters to higher credit costs.
  • Moderation in Profitability indicators
    The Company`s 2019s operations are largely concentrated in South India, which constituted 60% of its total branch network and 50% of its total gold loan portfolio as of December 31, 2021. Although the share of the portfolio in South India has reduced from 57% in March 2015. Geographical diversification is expected to improve steadily over the medium to long term with an improvement in the scale of the gold loan portfolio and the stabilization of the performance of the non-gold asset segments..

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