Muthoot Finance Limited - NCD

Please Share:: India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��

Muthoot Finance Limited is coming up with a Public issue of Secured Non-convertible Debentures (“NCD”) aggregating up to Rs.250 Crores with an option to retain over-subscription of up to Rs.250 Crores. It is the largest gold financing company in India in terms of loan portfolio, with 5.5 million loan accounts and gold loans outstanding worth Rs. 20,766.6 crs as on 30th September 2011. The Companies portfolio of outstanding gross gold loans under management was Rs 20,767 crs, and approximately 129.5 tons of gold Jewellery was held by Muthoot as security for their gold loans. Gross non-performing assets ("NPAs") were at 0.59% of gross retail loan portfolio under management as of September 30, 2011.

Below are the details of the Issue:

Muthoot NCD
ISSUE OPENS	2nd March, 2012
ISSUE CLOSES	17th March, 2012
PRICE BAND	Rs. 1000/-
MINIMUM APPLICATION	5 Units (Rs. 5, 000) and in multiples of 1 NCD (Rs. 1000) each thereafter.
INTEREST RATE	Options I II III IV Frequency of Interest Payment Annual Annual Annual NA Coupon Rate (%) for NCD Holders in Category I and Category II and Category III 13.00% 13.25% 13.25% NA Effective Yield (per annum) for NCD Holders in Category I, Category II and Category III 13.00% 13.25% 13.25% 13.43% Tenor 24 months 36 months 60 months 66 months Redemption date 24 months from the Deemed Date of Allotment 36 months from the Deemed Date of Allotment 60 months from the Deemed Date of Allotment 66 months from the Deemed Date of Allotment Redemption amount (per NCD) Repayment of the Face Value plus any interest that may have accrued at the Redemption Date. Rs 2,000
RATING	CRISIL ‘AA-/Stable’ and ICRA – ‘ICRA AA-(stable)’