This entry is part 9 of 9 in the series Muthoot NCD

Muthoot Finance Ltd is coming out  with a public issue of Unsecured & Secured, Redeemable, Non Convertible Debentures (NCDs) of face value of Rs. 1000 each aggregating to a total of upto Rs. 300 Cr. The Issue is open for subscription on 25th March 2015 and closes on 27 April 2015.

 If you already subscribe in this company then wait for another issue for diversify your Portfolio.

Current market condition is not good for Gold Category. The Issue is rated AA- with a negative outlook by Credit Rating agencies ICRA.

 

 Product Note

Muthoot NCD Issue Highlights

IssuerMuthoot Finance Ltd
Type of InstrumentSecured & Unsecured Redeemable, NCD
Issue Open25 March 2015
Issue Close27 April 2015 (with option of early closure or extension)
Issue Size200 Cr. with an option to retain oversubscription of 400 Cr.
Face ValueRs. 1,000
Min. Application Size10 Bonds (Rs.10000) & multiply of 1 NCD thereafter (across all series NCD)
Interest Monthly, Annually & Cumulative
Mode of AllotmentD'mat as well as Physical Form
Rating ICRA AA- (Double AA Minus)
ListingBSE
Application Money Interest (refunded)
Allotment Money Interest

Specific Term of Issue

OptionsIIIIIIIVVVI
Tenor24 month (2 yrs)36 month (3 yrs)60 month (5 yrs)24 month (2 yrs)36 month (3 yrs)60 month (5 yrs)
Coupon - Retail9.50%9.75%9.50%9.75%10.00%9.75%
Face Value100010001000100010001000
Maturity100010001000100010001000
Interest PaymentMonthlyMonthyMonthyAnnual Annual Annual
Additional Interest Rate -Cat II & III0.75%0.75%0.75%0.75%0.75%0.75%
OptionsVIIVIIIIXXXI
Tenor400 days2 yrs3 yrs5 yrs81 M
Base CouponNANANANA
Yield - 9.75 %10.25 %10.50%10.25 %10.80%
Face Value1000100010001000
Maturity 1107.771215.511349.231628.892000
Interest Paymentn.a.n.a.n.a.n.a.

 Note : 

Subject to Applicable Tax deducted at source (TDS)

 Cheque Details :

Cheque / DD should be drawn in favour of

 ” Escrow Account Muthoot Finance NCD Public Issue  “ by all applicant

About Issue

About Company

The funds raised through this issue will be utilised by the company for various financing activities including lending and investments, to repay existing liabilities or loans and towards business operations including for capital expenditure, working capital requirement and other general corporate purposes.

The company provides personal and business loans secured by gold jewellery, or gold loans, primarily to individuals who possess gold jewellery, but could not access formal credit within a reasonable time, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements.

 

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