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The NCDs issue opened on 25 May 2022, and it will close on 17 June 2022. The NCDs are proposed to be listed on BSE. The bonds would be issued at face value of Rs 1,000 and the minimum application size is Rs 10,000 across all categories.
There are seven series of NCDs carrying fixed coupon and having tenure of 36 months, 60 months and 84 months with annual, monthly and cumulative interest option. Coupon for NCDs ranges from 7.25% to 8% per annum while effective yield (% per annum) ranges from 7.25% to 8%.
The NCDs offered under the issue have been rated [ICRA] AA+/Stable by ICRA. Such instruments carry very low credit risk.
The company proposes to utilize at least 75% of the total estimated net proceed for the purpose of lending; and upto 25% of the total estimated net proceed towards general corporate purposes.
Muthoot Finance is the largest gold loan NBFC in India in terms of loan portfolio. It provides personal loans and business loans secured by gold jewelry (gold loans). The company's gold loan portfolio as of 31 December 2021 comprised approximately 8.52 million loan accounts in India, serviced through 4,617 branches across 22 states, the national capital territory of Delhi and six union territories in India.
On a consolidated basis, net profit of Muthoot Finance rose 3.48% to Rs 1039.76 crore on 5.03% increase in total income to Rs 3,168.09 crore in Q3 December 2021 over Q3 December 2020. The company's board will consider Q4 results on 26 May 2022.
Shares of Muthoot Finance was up 0.22% at Rs 1162.10 on the BSE today (23 May 2022).
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