Muthoot Finance Ltd NCD Issue Review & Details

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Muthoot Finance Ltd NCD Issue Review & Details

Muthoot Finance Ltd NCD Issue Review & Details

Muthoot Finance Ltd NCD Issue Review & Details – Opens on 2 March 2012‏

 

Options                Particulars

Issuer                  Muthoot Finance Ltd

Issue                  Base issue size of Rs. 250 Crores with an option to retain over-subscription upto additional Rs. 250 Crores

Issue Opens       2nd March 2012

Issue Closes       17th March 2012

Basis of allocation            first come first serve basis

Issuance and Trading      Compulsorily in dematerialized form

Trading Lot          1 (one) NCD

Rating   AA-/Stable by CRISIL & ICRA

Interest payable               Interest on application & Interest on refund money – 13% p.a.

Deemed Date of Allotment         Shall be the date as decided by the duly authorized committee of the board constituted by resolution of the board.

Options | || ||| |V
Frequency of Interest Payment Annual Annual Annual NA
Minimum Application Rs. 5,000 (5 NCDs)(for Options I, II, III and IV either taken individually or collectively)
In Multiples of (in Rs) 1,000 (1 NCD) 1,000 (1 NCD) 1,000 (1 NCD) 1,000 (1 NCD)
Face Value of NCDs (in Rs) 1,000 1,000 1,000 1,000
Issue Price (Per NCD – in Rs) 1,000 1,000 1,000 1,000
Coupon Rate (%) for NCD 13.00 13.25 13.25 NA
Effective Yield (% per annum) 13.00 13.25 13.25 13.43
Tenor (in Months) 24 36 60 66
Redemption date (in Months from the Deemed date of Allotment) 24 36 60 66
Redemption amount (per NCD) Repayment of the Face Value plus any interest that may have accrued at the Redemption Date. Rs. 2000

Issue details

 

Who can apply *
Category I Public financial institutions, statutory corporations, commercial banks, co-operative banks and regional rural banks; Provident funds, pension funds, superannuation funds and gratuity fund; Venture Capital funds; Insurance Companies; National Investment Fund; Mutual Funds (Issue allocation 15%)
Category II Companies; bodies corporate, societies; trusts; research organizations, Partnership and Limited liability partnerships; Resident Indian individuals; and HUF (applying for NCDs aggregating to a value exceeding Rs. 500,000, across all series of NCDs (Issue allocation 20%)
Category III Resident Indian individuals; and HUF (applying for NCDs aggregating to a value not more than Rs. 500,000, across all series of NCDs (Issue allocation 50%)
Category IV NRIs on a non-repatriation basis only * (Separate Form is to be filled in by NRIs) (Issue allocation 15%)

 

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About akhilendra

Hi, I’m Akhilendra and I write about Business Analysis, Data Science, IT & Web. Join me on Twitter, Facebook & Google+

Comments

  1. Woah this blog is excellent i really like studying your posts. Stay up the good work! You know, many persons are searching around for this info, you can help them greatly.

  2. Mayur Mehta says:

    Hi,

    If i am a small investor who want to get good returns in short term and need low risk associated then what should I do…? Where to invest…? Is this a good option for me….?

    • akhilendra says:

      If your risk appetite is low and want to get good returns in short term, then i will suggest you to look at debt or balance funds. Don’t invest in share market for short term if your risk appetite is low.

  3. hey akhil..nice detailing on the issue.i was wondering if there is any risks associated with ncd's..is it safe as fd's ?

    • akhilendra says:

      Mahesh, Personally i believe there is always some risk associated with any & all financial instruments. In general NCDs/Non convertible debentures are like unsecured loan to company which cannot be converted to stocks. They are often available at high interest rates than fixed deposits, they are better investment option. In case of FDs, we are putting money with banks and in case of NCDs, we are putting money with a non banking company, in this case, it is muthoot finance. So practically risk is associated with the company and if anything happens to the company in the period, it is going to have its own impact.

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