Muthoot Fincorp Limited – NCD Issue : Secured, Redeemable, Non Convertible Debentures in private placement basis closing on 31st December 2011.
About the Company
Muthoot's operating history has evolved over a period of 72 years since M George Muthoot (the father of the Promoters) founded a gold loan business in 1939. Presently, it is the largest gold financing company in India in terms of loan portfolio.
It is registered with the Reserve Bank of India as a systemically important non-deposit taking non-banking finance company (NBFC) with a paid up capital of Rs 181.25 crores and a Net Owned Fund of Rs 766.50 cr as on 30.09.2011.
Muthoot Fincorp Limited focuses on providing a host of financial services through a wide network of over 1560 branches pan India. It has a diverse mix of retail offerings in the areas of Consumer loan products and investment advisory services. These include Gold loans, Home loans, Auto loans, Loans against Property, Investment products and Advisory Services.
Product Details
| Issue size | Rs. 50 crores with green shoe option |
| Instrument | Secured, Redeemable, Non-convertible Debentures |
| Instrument Form | Only In Dematerialized Form |
| Credit Rating | ‘A+’ by CRISIL Ltd ( means Adequate Safety) |
| Face Value | Rs. 1,00,000 per Bond |
| Issue Price | At Par (ie. Rs. 10,000 per Bond) |
| Min Application | 1 Bond and in multiples of 1 Bond thereafter |
| Interest Rate | 12.75% for 18 month |
| 13 % for 36 month | |
| Interest Payment | Annually |
Issue Highlight
- Compulsorily in Demat Form
- Allotment in as first come first basic
- NRI can not apply for this NCD
Risk
The company is almost 100% in the gold loan business and all its advances are secured against it, so Muthoot may get affected by any meaningful decline in gold prices.
For Forms mail @ bonanza42a@yahoo.in or call Rajendra - 8007750904
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