Muthoot Fincorp Limited (MFL) plans to offer special savings bonds in October 2023. These bonds will be available for purchase from October 13 to October 27, 2023. The total bond value is 75 crore rupees, with the option to increase it to 225 crore rupees.
Here are the important details Muthoot Fincorp Limited NCD IPO in October 2023:
- Issuer: Muthoot Fincorp Limited
- Opening Date: October 13, 2023
- Closing Date: October 27, 2023
- Face Value: Each bond is worth 1,000 rupees
- Price per Bond: 1,000 rupees
- Minimum Purchase: You need to buy at least 10 bonds (10,000 rupees), and after that, you can buy in multiples of 1,000 rupees.
- Listing Date: November 7, 2023
- Credit Rating: Rated “CRISIL AA-/Stable”
- Duration: Up to 96 months
- Stock Exchange: BSE
Muthoot Fincorp Limited is a company established in 1997. It’s a non-deposit-taking financial institution, primarily focused on providing loans against gold jewelry. They are part of the MPG group, which has interests in various businesses such as hospitality, real estate, and power generation. The company also deals with mutual funds, insurance, and money transfers.
The company had substantial assets under management (AUM) as of September 30, 2022. MFL had 18,496 crore rupees, MML had 7,401 crore, MCSL had 2,036 crore, and Muthoot Housing had 1,423 crore.
These bonds are considered a safe investment with a high credit rating and are backed by MFL’s assets. You can invest in them through brokers or online platforms, with a minimum investment of 10,000 rupees.
Muthoot Fincorp Limited primarily offers loans secured by gold ornaments and jewelry, making it one of the largest gold loan companies in India. The funds raised from the bond issue will be used for their day-to-day financial needs and general company expenses.
Here are some factors to consider when investing in these bonds:
- Credit Rating: These bonds have a high credit rating, indicating the company’s ability to meet its financial obligations to investors.
- Security: The bonds are secured by the company’s assets, which means investors have a safety net in case of payment defaults.
- Interest Rates: The bonds offer attractive interest rates, higher than many other fixed-income investments.
- Company Track Record: MFL is a well-established company with a strong history.
- Investment Goals and Risk Tolerance: Consider your investment goals and risk tolerance before investing. These bonds are a good option for those seeking a safe and steady investment with attractive returns.
In summary, the Muthoot Fincorp Limited NCD IPO in October 2023 is a promising opportunity for investors seeking a secure and rewarding investment.
