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IPO

BondsIndia

AA-

Opening Date

12 Apr 2023

Closing Date

26 Apr 2023

Yield

Upto 9.37%

Tenure

Upto 84 Months

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Company Details
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Home   /   IPO   /   Muthoot Fincorp Limited

IPO

MUTHOOT FINANCE LIMITED

Ongoing IPO

MUTHOOT FINANCE LIMITED

Opening Date
12 Apr 2023

BondsIndia

AA-

Closing Date
26 Apr 2023

bondsindia

Time to close

Yield
Upto 9.37%

Tenure
Upto 84 Months

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IPO Details

IPO Details

Issue Size (Including Green Shoe Option) 300.00 crores
Face Value ₹1000
Coupon Upto 9.15%
Minimum Number of Bonds 10
Lot Size (Multiplier) 1
Allotment Date (Tentative) 02 May 2022
Listing Date (Tentative) 03 May 2022
Exchange Bid Time (24 Hours) 10:00 to 17:00

Documents attached

Information Memorandum

 

BondsIndia
Product Note

 

BondsIndia

*Allotment on first come first serve basis

 

ISSUE STRUCTURE

Series
I
II
III
IV
V
VI
VII
VIII
Tenor (In Months)
27
42
60
84
60
27
42
84
Frequency of Interest payment
Monthly
Monthly
Monthly
Monthly
Annual
Cumulative
Cumulative
Cumulative
Minimum Application
10000 (10 NCDs) across all Series
Face Value/Issue Price
1000
In multiples of thereafter
1000 (1 NCD)
Coupon (% per annum) for NCD Holders in Category I, II, III and IV Investors 
8.40%
8.65%
8.80%
9.00%
9.15
NA
NA
NA
Effective Yield (per annum) for NCD Holders in Category I, II, III and IV Investors 
8.71%
9.00%
9.15%
9.37%
9.15%
8.71%
9.00%
9.37%
Coupon Type
Fixed
Mode of Interest Payment 
Through various mode available
Amount (₹ / NCD) on Maturity for NCD Holders in Category I, II, III and IV Investors 
1,000
1000
1,000
1,000
1000
1,207
1,353
1,873
Put and Call Option 
Not Applicable 

How to invest in the Muthoot Fincorp Limited IPO?

Application process on BondsIndia 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 payment method.

•That’s all folks , bidding complete!

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

Why choose BondsIndia?

BondsIndia 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. BondsIndia 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 Technology based platform for investors that ensures instant online settlements and reduces counter-party risks. Choose BondsIndia for its sleek interface, fail-safe communication and step-by-step guide to ensure a well-placed bid. You can apply for Muthoot Fincorp Limited 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 Fincorp Limited ?

Application process on BondsIndia 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 BondsIndia.

AUM

70,555 Crs

GNPA

3.80%

NPA

3.40%

  • Muthoot Fincorp Limited
    Muthoot Fincorp Limited , set up in 1997, is a non-deposit-taking, systemically-important NBFC, engaged in lending against gold jewellery. It is the flagship company of the MPG, which has diverse business interests such as hospitality, real estate and power generation. The company also distributes mutual funds, and general and life insurance products, and operates in the money-transfer segment.
  • MFL (on standalone basis) had AUM of Rs 18,496 crore. MML had AUM of Rs 7,401 crore, MCSL has Rs 2,036 crore and Muthoot
    Housing has Rs 1,423 crore as on September 30, 2022.
  • Established market position in gold financing, supported by extensive experience of the promoters MFL is the third largest gold loan non-banking financial company (NBFC). The promoters have spent over seven decades in the business of lending against gold jewellery. Over the years, the group has established a strong reputation and brand in South India and has an appropriate assessment and underwriting methodology.
  • Diversified product profile of the MPG group MPG has diversified its product profile over the past few years. Currently, the group operates in five major segments: loan against gold jewellery, two-wheeler finance, microfinance, housing finance and small business loans. Overall managed AUM of MPG is around Rs 29,356 crore as on September 30, 2022 (Rs 28,308 crore as on March 31, 2022). The proportion of gold loans has remained high at 61.5% in H1 2023 as compared to 67% in March 2021. The microfinance portfolio is the second largest with around 25% of overall portfolio of the group as on September 30, 2022. CRISIL Ratings believes that the gold loan AUM will continue to account for around 60% of the consolidated AUM.
  • Improvement in capitalisation with the recent infusion MFL 2019s networth, at standalone level, stood at Rs 3,967 crore (including CCCPS) as on September 30, 2022 as against Rs 3,201 crore as on March 31, 2021 supported by the capital infusion of Rs 150 crore CCPS. On a consolidated level, networth stood at Rs 4,119 crore on March 31, 2022, against Rs 3,595 crore on March 31, 2021 which was bolstered by Rs $50 million in MML by a PE investor Greater Pacific Capital in fiscal 2022. Consequently, the consolidated networth increased to an estimated Rs 4393 crore in Q1 2023 compared to Rs 3,595 crore in fiscal 2021.
  • Healthy asset quality in the gold loan segment to support overall group asset quality The gross NPAs for MFL stood at 2.88% as on March 31, 2022 against 1.92% as on March 31, 2021. The rise in NPAs are primarily due to accumulation of auctionable gold loan portfolio and the SME portfolio wherein the performance was affected due to slowdown in the sector. Further there is a negligible impact of the Reserve Bank of India (RBI) clarification released in November 2021 on the NPAs as gold loans are demand loans where the interest and principal amount are due for payment at the end of tenor. However, CRISIL Ratings notes that due to asset quality issues and the pandemic, the company, incrementally, has reduced its exposure to the SME segment and has started focusing primarily on gold loan products.
  • Geographical concentration in portfolio High geographical concentration persists, with South India accounting for around 62% of the gold loan portfolio on March 31, 2022 (as compared to 70% on March 31, 2019). This was achieved by increasing per branch business from branches other than southern branches, opening of new branches in North, East and South and closing or merging non-viable branches in South India. At the MPG level, around 80% of AUM is concentrated in South Indian states. While the level of concentration has been declining, it is higher than that of its peers. Presently, the demand for gold loans has been high in the region. Therefore, the proportion of AUM from the South region may not decline further in the current fiscal.
  • Potential challenges associated with non-gold loan segments The non-gold segments accounted for 38.5% of the overall portfolio as on September 30, 2022. While MPG has managed to grow these businesses and increase the segmental share over the last 2-3 years, potential challenges linked to seasoning of the loan book and asset quality remain. In fiscal 2022, microfinance portfolio and housing finance portfolio has registered a growth of 26% and 6.3% respectively whereas vehicle loan portfolio declined by 1.8%.
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* Investments in debt securities are subject to risks. Read all the offer related documents carefully.
N/A stands for Not Applicable

SEBI Registration No. : INZ000296636 | BSE Member ID: 6746 | NSE Member ID: 90329

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