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The Secured NCDs shall be secured by way of first pari passu floating charge on current assets, book debts, loans, advances and receivables including gold loan receivables both present and future, by way of hypothecation. The issuer shall create and maintain security for the Secured NCDs in favour of the Debenture Trustee for the Secured NCD Holders on the book value of the above assets as appearing in the balance sheet from time to time to the extent of 100% of the amount outstanding in respect of Secured NCDs, including interest thereon, at any time. At the request of the Company, the Debenture Trustee may release/ exclude a part of the assets mentioned above from the security to be created for the Secured NCDs, subject to the Company maintaining the security cover as mentioned above and subject to such other terms and conditions as may be stipulated by the Debenture Trustee. The Company shall carry out subsequent valuation of the assets mentioned above, at the request of the Debenture Trustee, at the Companys cost. While the Secured NCDs will be secured to the tune of 100% of the principal and interest amount as per the terms of this Tranche III Prospectus, in favour of Debenture Trustee, it is the duty of the Debenture Trustee to monitor that the security is maintained, however, the possibility of recovery of 100% of the amount shall depend on the market scenario prevalent at the time of enforcement of the security. |
| Issue Details |
| Issue Open |
08-Jan-2024-19-Jan-2024 |
| Security Name |
Muthoot Finance Limited |
| Security Type |
Secured Redeemable Non-Convertible Debentures |
| Issue Size (Base) .Cr |
100 |
| Over subscription |
An Option To Retain Oversubscription Up To Rs. 900 Crores Aggregating To Rs. 1000 Crores. |
| Issue Price |
1000 |
| Face Value |
1000 |
| Market Lot |
1 |
| Credit Rating |
"[ICRA] AA+/Stable" by ICRA. |
| Tenor |
36 Months,60 months,24 months |
| Series |
Series1,Series2,Series3,Series4,Series5,Series6,Series7 |
| Payment Frequency |
Monthly,Yearly,At the End |
| Objects of the Issue: |
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PUBLIC ISSUE BY MUTHOOT FINANCE LIMITED ("COMPANY" OR THE "ISSUER") OF SECURED, REDEEMABLE, NON-CONVERTIBLE DEBENTURES OF FACE VALUE OF Rs. 1000 EACH ("NCDs") FOR AN AMOUNT OF Rs. 100 CRORE ("BASE ISSUE SIZE") WITH AN OPTION TO RETAIN OVERSUBSCRIPTION UP TO Rs. 900 CRORE AGGREGATING UP TO 10000000 NCDs AMOUNTING TO Rs. 1000 CRORE ("TRANCHE III ISSUE LIMIT") ("TRANCHE III ISSUE") WHICH IS WITHIN THE SHELF LIMIT OF Rs. 2600 CRORE. |
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| Company Promoters |
| George Alexander Muthoot |
| George Jacob Muthoot |
| George Thomas Muthoot |
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| Lead Managers |
| 1. A. K. Capital Services Limited |
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| Registrar to the Issue |
| 1. LINK INTIME INDIA PRIVATE LIMITED |
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