Muthoot Fincorp Limited, is a company which is catering to the financial needs of retail and institutional customers. Muthoot Fincorp Limited is a non-banking finance company (NBFC)company and is focussing to make people readily available with a large number of solutions for financial services through their wide network of over 1559 branches pan India. It is providing Consumer loan products, investment advisory services, Gold loans, Home loans, Auto, Loans against Property, Investment products and other related advisory services.
It has now come with a non convertible debenture (NCD) to augment its working capital and expand its presence in India.
Issue highlights
- Compulsorily in Dematerialised form
- 2 Investment options that can cater to the needs of different investors.
- The Debenture is proposed to be listed on WDM segment of BSE
- NCD have an attractive coupon rate up to 13.00% per annum.
- Allotment is on First come first Serve Basis
- Listing Proposed to be listed on WDM segment of BSE
- Interest on Application Money shall be paid at the coupon rate from the date of realization of the subscription Amount to the date immediately preceding the deemed date of allotment
- The allotment(s) would be made on demat form only
| Issuer/ Borrower | Muthoot Fincorp Ltd. |
|---|---|
| Issue Open | 30-Nov-11 |
| Issue Close | 31-Dec-11 |
| Issue Size | Rs. 50 Crores with a green shoe option of Rs. 50 Crores |
| Nature of Instrument | Secured, Redeemable, Non-Convertible Debentures |
| Credit Rating | A+’ by CRISIL indicating Stable |
| Security | First Pari passu charge on receivables of the company with a minimum asset cover ratio of 1.10 times to be maintained during the entire tenure of the NCD. |
| Instrument Form | Only Demat |
| Face Value | Rs. 1,00,000 |
| No. of Debentures | 5000 |
| Listing | BSE |
| Registrar | Integrated Enterprises India Ltd |
| Depositories | NSDL & CDSL |
| Trustees | IL&FS Trust company Limite |
| Tenor | 18 Months | 36 Months |
|---|---|---|
| Coupon (%) | 12.75% | 13.00% |
| Face Value | Rs. 1 Lakh | Rs. 1 Lakh |
| Issue Price | Rs. 1 Lakh | Rs. 1 Lakh |
| Minimum Application | 1 Debenture | 1 Debenture |
| Put/Call Option | No | No |
| Redemption Amount | Rs. 1 Lakh | Rs. 1 Lakh |
Details of utilization of proceeds objects of the issue:
a) The current borrowing program will be used to augment the working capital of the company & for General Corporate Purposes.
b) The expenses of the present issue would also be met from the proceeds of the issue.
c) No part of the proceeds would be utilised by the issuer directly/indirectly towards Capital Markets and Real Estate purposes.
d) The net proceeds from the issue of NCD’s shall not be used for any purpose, which may be in contravention of the RBI guidelines on Bank financing to NBFC’s.
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