Muthoot Finance Ltd is coming out with a public issue of secured NCDs for an amount up to Rs13,000 million and unsecured NCDs for an amount up to Rs1,000 million of face value of Rs1,000 each, for an amount aggregating up to Rs14,000 million, hereinafter referred to as the "Issue". The unsecured NCDs will be in the nature of subordinated debt and will be eligible for Tier II Capital.
Muthoot Finance Ltd is a systemically important non-deposit taking NBFC headquartered in Kerala. Its operating history has evolved over 77 years. Muthoot Finance Ltd is the largest gold loan NBFC in India in terms of loan portfolio. It provides personal loans and business loans secured by gold jewellery, or gold loans, primarily to individuals who possess gold jewellery but are not able to 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.
The issue opens on January 17, 2017 and closes on February 17, 2017.
The allotment will be on a first come first serve basis.
Salient features of the NCD issue:
The issue offers annual yields ranging from 8.50% to 9.25%, depending on the category of investor and the series applied for
Muthoot Finance Ltd is a systemically important non-deposit taking NBFC headquartered in Kerala. Its operating history has evolved over 77 years. Muthoot Finance Ltd is the largest gold loan NBFC in India in terms of loan portfolio. It provides personal loans and business loans secured by gold jewellery, or gold loans, primarily to individuals who possess gold jewellery but are not able to 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.
The issue opens on January 17, 2017 and closes on February 17, 2017.
The allotment will be on a first come first serve basis.
Salient features of the NCD issue:
The issue offers annual yields ranging from 8.50% to 9.25%, depending on the category of investor and the series applied for
Secured NCDs rated "[ICRA] AA (Stable)" by ICRA and "CRISIL AA/Stable" by CRISIL
Minimum application is Rs10,000 (10 NCDs) and in multiple of Rs1,000 (1 NCD) thereafter across all series
The NCDs will be listed on the Bombay Stock Exchange
No TDS on interest for NCDs held in demat form; NCDs in physical form will be subject to tax at the applicable rates of income tax
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