Muthoot Fincorp Limited NCD Details

Muthoot Fincorp Limited NCD Details

Muthoot Fincorp Limited NCD 

Muthoot Fincorp Limited, a non-deposit-taking NBFC Firm. It launches a new NCD scheme. The scheme opens for subscription on April 7th, 2021. It is a secured, redeemable, Non-Convertible debentures Secured NCD or Unsecured subordinated Non-Convertible Debentures. Moreover, the scheme will close on April 29th, 2021.

The firm involved in the business of offering personal and business loans. These loans secured by gold ornaments and jewelry. As of the source, Muthoot Blue Guide, Bright, Power, Bigg, and Smart gold loans along with 24×7 Express Gold loan offered by the firm. 

Basic Details of NCD:

 Issue Open April 7th, 2021 – April 29th, 2021
 Security Name Muthoot Fincorp Limited
 Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
 Base Issue Size Rs. 200 crores
 Issue Size (Shelf) Rs. 200 crores
 Issue Price Rs. 1,000 per NCD
 Face Value Rs. 1,000 each NCD
 Minimum Lot Size 10 NCD
 Market Lot 1 NCD
 Listing At BSE
 Credit Rating The NCDs have been rated “A+ Stable” by CRISIL Limited
 Basis of Allotment First Come First Serve Basis

A public issue by Muthoot Fincorp of secured NCDs of the face value of Rs. 1,000 each NCD or unsecured NCDs of the face value of Rs. 1,000 each NCD for an amount aggregating up to Rs. 20,000 lakhs with an option to retain oversubscription up to Rs. 20,000 lakhs are aggregating to Rs. 40,000 lakhs.

Further, investors need to invest a minimum of 10 bonds means to invest for a minimum of Rs. 10,000 in multiples of 1 bond. 

Investment Objective:

As per the NCD prospectus, the net proceeds of the issue will be utilized for the purpose of working capital and general corporate purposes.

The NCDs proposed to be issued under this issue have been rated as “A+ Stable” by CRISIL Limited. It will manage by SMC Capitals Limited.

As of the source, the NCD has reserved for QIB, NII, HNI. It reserved 1,00,000 NCDs for QIBs and up to 8,00,000 NCDs for NIIs. Further, 11,00,000 bonds reserved for HNIs.

Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Please read the offer document carefully and consult your investment adviser before investing.

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