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Written by The RupeeManager Team
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Thursday, 22 December 2011 11:34 |
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Muthoot Finance Ltd. is one of the oldest and largest gold financing company in India as the Gold Loan business was started in 1939. Muthoot Finance is coming out with a public issue of Non Convertible Debentures from today, i.e., 22nd December, 2011 for an issue size aggregating up to Rs 600 crore. Read what is a NCD?
There are 4 options that depends on the term of the debentures. The term ranges from 2 years to 5-1/2 years. For the 5-1/2 year debenture, Muthoot Finance offers 13.43% effective yield while for the 2 year debenture, it is 13%.
Issue Details:
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Issue Size
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Rs. 300 crores + oversubscription upto Rs. 300 crores, aggregating to Rs. 600 crores
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Issue Opens
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22nd December 2011
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rIssue Closes
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07th January 2012
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Options
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I
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II
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III
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IV
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Frequency of Interest Payment
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Annual
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Annual
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Annual
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N.A
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Minimum Application
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Rs.5,000 (5 NCDs) (for all options of NCDs, namely Options I, Option II, Option III and Option IV either taken individually or collectively)
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In Multiples of
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Rs. 1,000 (1 NCD)
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Rs. 1,000 (1 NCD)
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Rs. 1,000 (1 NCD)
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Rs. 1,000 (1 NCD)
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Face Value of NCDs (Rs. / NCD)
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Rs.1,000
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Rs.1,000
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Rs.1,000
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Rs.1,000
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Coupon Rate (%) (per annum)
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Coupon Rate (%) for NCD Holders in Category I
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13.00%
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13.25%
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N.A
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Coupon Rate (%) for NCD holders in Category II
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Coupon Rate (%) for NCD holders in Category III
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Effective Yield (per annum)
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Effective Yield (per annum) for NCD Holders in Category I
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13.00%
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13.25%
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13.43%
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Effective Yield (per annum) for NCD holders in Category II
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Effective Yield (per annum) for NCD holders in Category III
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Tenor
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24 months
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36 months
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60 months
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66 months
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Redemption date
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24 months from the Deemed Date of Allotment
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36 months from the Deemed Date of Allotment
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60 months from the Deemed Date of Allotment
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60 months from the Deemed Date of Allotment
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Redemption Amount (per NCD)
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Repayment of the Face value + any interest that may have accrued at the redemption date
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Rs.2000
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Credit Rating
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CRISIL AA-/Stable’ by CRISIL and ‘[ICRA] AA-(stable)’ by ICRA.
Rating of the NCDs indicates a high degree of safety with regard to timely servicing of financial obligations on the NCDs and such instruments carry a very low credit risk.
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Key Highlights
- De-risked Industry with Untapped Opportunity and High Growth Potential
- Largest Non-Banking Finance Company in Gold Loan Business in India
- Pan-India Reach and Branch Network
- Strong Brand with an Unique Business Model
- Robust Operating System
- Sound Financial Standing
- Experienced and Respected Management
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