Page 2 - Muthoot Finance

Muthoot Finance's arm Belstar Microfinance files Rs 1,300-cr IPO with Sebi

Muthoot Finance's microfinance arm, Belstar Microfinance Ltd, on Sunday filed preliminary papers with capital markets regulator Sebi to raise Rs 1,300 crore through an initial public offering (IPO). The Chennai-based entity's IPO is a combination of fresh issue of equity shares worth Rs 1,000 crore and an offer-for-sale (OFS) of Rs 300 crore by investor shareholders, according to the draft red herring prospectus (DRHP). As a part of the OFS, Danish asset management firm MAJ Invest aims to sell shares to the tune of Rs 175 crore, followed by Arum Holdings Ltd (Rs 97 crore) and Augusta Investments Zero Pte Ltd (Rs 28 crore). Maj Invest had first invested in Belstar Microfinance in 2018 and again in 2022. At present, Muthoot Finance, which is one the promoters, holds a little over 66 per cent stake in Belstar Microfinance. Proceeds from the fresh issue worth Rs 760 crore will be used to meet future capital requirements towards onward lending and the remaining amount will be used for

Muthoot Finance to raise Rs 500 crore through issue of five-year bonds

The company will pay an annual coupon of 9.03% on this issue and has invited commitment bids for the same on Thursday

Muthoot Microfin's AUM rose 32% YoY in Q4, loan disbursement highest ever

The AUM in the March quarter soared to Rs 12,194 crore as compared to Rs 9,208 crore during the same period a year ago

Select NBFCs rally up to 20% after RBI action on IIFL Finance

Capri Global Capital (CGCL), CSB Bank, Muthoot Finance and Manappuram Finance are up between 7% and 20%

Muthoot Finance Q3 results: Net profit up 23% owing to higher gold prices

The company posted a consolidated net profit of Rs 1,145 crore during the third quarter of 2023-24

Muthoot Finance Q3 results: Profit up 14% at Rs 1,027 cr on loan growth

The board also approved raising up to 160 billion rupees through an issue of non-convertible debentures

Major Gold financer Muthoot Fincorp launches Rs 300-cr NCDs issue

Leading gold loan financier Muthoot Fincorp on Friday said it will raise Rs 300 crore through the issue of secured, redeemable, non-convertible debentures (NCDs). The issue opened for public subscription from Friday and will be open till January 25, the company said. The company said the proposed debt issuance is within the shelf limit of the board approved plan of raising up to Rs 1,100 crore this fiscal. The base size of the third tranche is Rs 75 crore with a green shoe option of Rs 225 crore. The company offers tenure options of 24 months, 36 months, 60 months, and 96 months with monthly, annual, and cumulative payment options across options with the coupon rate ranging from 9.26-9.75 per cent.

Muthoot Finance to raise up to Rs 1,000 crore capital through NCDs

Gold loan focused non-bank lender Muthoot Finance on Tuesday said it will raise up to Rs 1,000 crore through a public issue of secured, redeemable non-convertible debentures. The fresh non-convertible debentures (NCDs), which is the 33rd public issue of the largest gold loan financier with over Rs 60,000 crore of loan outstanding, has a base issue size of Rs 100 crore with an option to retain oversubscription up to Rs 900 crore. The issue opens on January 8 and closes on January 19 with an option to close on such earlier date or extended date as may be decided by the board, the Kochi-based company said in a statement. The NCDs, which have been rated AA+ (stable) by Crisil and Icra, will be listed on the BSE post allotment. The issuer is offering seven investment options for the NCDs with monthly or annual interest payment frequency or on maturity redemption with interest rate ranging from 8.75-9 per cent per annum, the company's managing director George Alexander Muthoot said.

SBI buys Rs 200 cr worth non-convertible debentures of Muthoot Fincorp

State Bank of India has purchased non convertible debentures (NCDs) worth Rs 200 crore issued by Muthoot Fincorp. The flagship company of 136-year-old Muthoot Pappachan Group on Tuesday said the debt issue has a five-year maturity with half-yearly being the frequency of the interest payment. However it didn't reveal the pricing of the issue. Shaji Varghese, CEO of the company said the proceeds from the NCD issue will be utilised for onward lending, business operations and further expansion and growth plan. Muthoot Fincorp has over 3,600 branches across the country and offers gold loans, small business loans, auto loans, home loans and loans against property, among others.

Muthoot Microfin IPO to open on Dec 18 at price band of Rs 277-291

The funds are expected to augment the capital base of the company. Out of the total, the company plans to raise Rs 760 crore through the sale of fresh equity and Rs 200 crore via Offer for Sale

Muthoot Finance Q2 profit rises 14% to Rs 991 cr, misses estimates

Muthoot's main rival Manappuram Finance is set to report second-quarter results on Nov. 13

Stocks to Watch on Sept 22: JSW Steel, Glenmark Life, Samhi, Zaggle, TaMo

Stocks to Watch today, September 22, 2023: Glenmark Pharmaceuticals Board has approved the divestment of a 75 per cent stake in its subsidiary Glenmark Life Sciences to Nirma for Rs 5,651 crore

RBI releases list of NBFCs in upper layer under scale-based regulations

In terms of the framework, once an NBFC is classified as NBFC-UL, it shall be subject to enhanced regulatory requirement, at least for a period of five years

Muthoot Fincorp Ltd launches all-in-one app for financial services

The application offers a wide range of services including MSME and gold loans along with investment in products like Digital Gold and NCDs

Stocks to Watch: Reliance, Coforge, GAIL, Vascon, Sugar stocks, P&G Health

Stocks to Watch on August 24, 2023: Coforge promoter Hulst BV is looking to offload its entire 26.63% stake in the firm via a block deal; India may ban sugar exports for the first time in 7 years

Muthoot Finance posts first quarterly profit growth in six quarters

The average loan ticket size grew by 14% year-over-year in the quarter while the total weight of pledged gold jewellery rose by 2%, the company said in a filing

Stringent rules for education loans turn parents towards gold loans

The recent surge in gold prices has made the yellow metal shinier as it fetches more funds for borrowers. Significantly, gold prices shot to Rs 60,000 per 10 grams from about Rs 50,000 a year ago

Muthoot Finance misses Q4 profit view amid weak macroeconomic environment

The gold loan industry has continued to benefit from a surge in the metal's prices amid an increase in safe-haven investment in gold due to market volatility

Muthoot Microfin to foray into Andhra Pradesh, Telangana in FY24

It is also expecting the disbursement too to touch Rs 11,000 crore during the year. In 2022-23, the company saw its disbursements increasing to Rs 8,104 crore, up from Rs 4,600 crore last year

ACC, Nykaa, HDFC AMC and Muthoot Fin likely to be dropped from Nifty 100

Jindal Steel and Power, Punjab National Bank, TVS Motor, Tube Investments and Zydus Lifesciences are expected to get added to the index