The Muthoot Mercantile NCD subscription for August 2024 opens on August 23, 2024. Furthermore, these NCDs offer an attractive interest rate of 12.07%. Additionally, they are rated IND BBB/Stable by India Ratings & Research Private Limited. Investors can choose from tenures of 400 days, as well as 20, 36, 60, and 73 months.
Table of contents
- Muthoot Mercantile NCD August 2024 Overview
- Company Details
- Tenure & Interest Rates
- Allocation Ratio
- How to apply for NCD?
- Muthoot Mercantile NCD August 2024 Allotment Status
- Muthoot Mercantile NCD August 2024 Registrar
- Muthoot Mercantile NCD August 2024 Lead Manager
- Muthoot Mercantile Limited Contact
- Muthoot Mercantile NCD August 2024 FAQs
Muthoot Mercantile NCD August 2024 Overview
| Security Name | Muthoot Mercantile Limited |
| Security Type | Secured NCDs |
| NCD Issue Open | August 23, 2024 |
| NCD Issue Close | September 5, 2024 |
| NCD Issue Size (Base) | ₹75.00 Crores |
| NCD Issue Size (Oversubscription) | ₹75.00 Crores |
| Overall Issue Size | ₹150.00 Crores |
| Price Band | ₹1000 per NCD |
| Face Value | ₹1000 per NCD |
| Interest Rate | Up to 12.07% (Annually) |
| Minimum Lot Size | 10 NCD |
| Listing on | BSE Platform |
| Credit Rating | IND BBB/Stable by India Ratings & Research Private Limited |
| Tenor | 400 days, 20, 36,60 and 73 Months |
| Series | Series I to IX |
| Basis of Allotment | First Come First Serve Basis |
| Payment Frequency | Monthly and Cumulative |
| DRHP Document | Click Here |
| RHP Document | Click Here |
Company Details
Muthoot Mercantile, a non-deposit, non-banking financial company (NBFC – Base Layer), primarily operates in the gold loan sector. The company specializes in lending money against the pledge of household and/or used gold jewelry (“Gold Loan”) to retail customers who need immediate funds but lack access to formal credit. Additionally, Muthoot Mercantile provides unsecured loans (Pronote Loan) to individuals for personal needs.
As of June 30, 2024, Muthoot Mercantile has disbursed Gold Loans and Pronote Loans through a well-established network of 252 branches. These branches are strategically located across 11 states and union territories in India, specifically including Tamil Nadu, Kerala, Delhi, Haryana, Maharashtra, Madhya Pradesh, Odisha, Punjab, Uttar Pradesh, West Bengal, and Rajasthan. Consequently, this extensive network ensures broad access to their financial services throughout the country. Furthermore, as of the same date, the company employs 863 individuals who are integral to its operations.
The branches play a crucial role, serving as the primary points of contact for loan origination, disbursement, and collection processes. They also facilitate essential customer interactions, ensuring efficient service and support.
Tenure & Interest Rates
| Opt | Frequency of Interest Payment | Tenure | Coupon (% PA) | Eff. Yield (% PA) | Amount on Maturity (In ₹) |
|---|---|---|---|---|---|
| Series 1 | Monthly | 400 Days | 10.70% | 11.24% | ₹1000.00 |
| Series 2 | Cumulative | 400 Days | NA | 10.80% | ₹1118.95 |
| Series 3 | Cumulative | 20 Months | 10.80% | 11.35% | ₹1000.00 |
| Series 4 | Cumulative | 20 Months | NA | 10.77% | ₹1185.83 |
| Series 5 | Monthly | 36 Month | 11.25% | 11.85% | ₹1000.00 |
| Series 6 | Cumulative | 36 Month | NA | 11.08% | ₹1,370.50 |
| Series 7 | Monthly | 60 Month | 11.50% | 12.13% | ₹1000.00 |
| Series 8 | Cumulative | 60 Month | NA | 11.03% | ₹1,687.50 |
| Series 9 | Cumulative | 73 Month | NA | 12.07% | ₹2000.00 |
Allocation Ratio
| Category | Allocation |
|---|---|
| Institutional | 10% |
| Non-Institutional | 40% |
| Retail | 50% |
| Category 4 | 0% |
How to apply for NCD?
Investors can conveniently apply for the NCD IPO electronically via the Internet banking facility. However, this option is available only if the SCSB where the investor’s ASBA account is maintained provides this service. Consequently, investors should ensure that their SCSB offers electronic application services to take advantage of this streamlined process.
The following are the general steps to apply for an NCD IPO through SCSB:
- The investor can start by logging into their Internet banking account.
- Next, visit the ‘Investments’ section.
- Then, look for the debentures/bonds/NCD section.
- Consequently, a list of active/current NCDs will be displayed.
- After that, select the NCD for which you wish to make an application.
- Following this, choose ASBA and enter the required NCD details.
- Finally, submit the application.
Once the application is submitted, SCSB will upload the offer on the exchange platform and block the funds from the ASBA account.
Muthoot Mercantile NCD August 2024 Allotment Status
Muthoot Mercantile NCD’s issue allotment is available on KFintech. To check, Firstly follow the steps below:
- Visit the BSE status of the issue application page.
- Select the Issue type – Debt.
- Select the Issue name from the drop-down list.
- Enter your application number or PAN.
- Tick the ‘I’m not a robot’ button.
- Click on Search and check the status.
Muthoot Mercantile NCD August 2024 Registrar
Kfin Technologies Limited
KFintech, Tower-B, Plot No 31 & 32,
Financial District, Nanakramguda, Gachibowli,
Hyderabad, Telangana India – 500 032.
Phone: 04067162222, 04079611000
Email: mml.ncdipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Muthoot Mercantile NCD August 2024 Lead Manager
Vivro Financial Services Private Limited
Vivro House11, Shashi Colony, Opposite Suvidha Shopping Center,
Paldi, Ahmedabad – 380007, Gujarat, India.
Phone: +91 (79) 40404242
Email: ahmedabad@vivro.net
Website: https://www.vivro.net/
Muthoot Mercantile Limited Contact
Muthoot Mercantile Limited
1st Floor, North Block, Muthoot Floors
Opposite W&C Hospital, Thycaud
Thiruvananthapuram 695 014, Kerela, India
Phone: +91-471-277-4800
Email: cs@muthootenterprises.com
Website: https://muthootenterprises.com/
Muthoot Mercantile NCD August 2024 FAQs
It will open on August 23, 2024, and will close on September 5, 2024.
The price for each NCD is set at ₹1000.
The total issue size for the NCD is ₹75 crores.
It will be listed on BSE platforms.
You can apply for the NCD either online or offline through your existing Demat account.
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