Muthoot Finance NCD Bonds
Muthoot Finance Bond debentures will be offered on a first-come, first-served basis. The issue opens on August 23 and closes on September 5, with the company having the option to close the issue earlier. There are three options in the NCDs:
Option I: The maturity date is 24 months, with interest paid annually. The coupon rate and effective yield is 12% pa for retail investors, while for institutional investors, it is a tad lower at 11.75%.
Option II: The maturity date is 36 months and here too the interest will be paid annually. The coupon rate and effective yield is 12.25% pa for retail investors, while for institutional investors, it is 12%.
Option III: The maturity date is 60 months with interest paid annually. The coupon rate and effective yield is 12.25% pa for retail investors and 12% for institutional investors.
The NCDs have a face value of 1,000 each and one can apply for a minimum of 5,000. The bonds have been rated AA- by both ICRA and CRISIL, indicating high degree of safety for timely servicing of financial obligations. The interest payable on NCDs is taxable, though there is no tax deduction at source (TDS). The NCDs would be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE)
Objects of the issue:
Opposite Saritha Theatre Complex,
2nd Floor, Banerji Road, Kochi - 682 018.
|Isuue Type||100% Book Building Issue|
|Issue Size||5,000,000 Shares - Rs. 500 Crores|
|Lot Size||Minimum Shares : 200 (2 Lac) |
Maximum Shares : 500 (5 Lac)
|Max Amount for Retail Investor||500000|
|Lead Manager||Karvy Stock Broking Ltd|
|Registrar||Link Intime India Pvt Ltd|
|Registrar Phone||022 22694127|
|Application Multiple||1 and in multiples there off starting with atleast 5 shares|
|Cheque in Favour of||"Escrow Account Muthoot Finance NCD Public Issue" For Retail Bidders|
Muthoot Finance NCD Bonds Grey Market Price - Premium - Rates
|Date||GM Premium||Kostak Rate|
|29-Aug-2011||Rs. 15 - 16||Rs. 7500 (5 Lac)|
|05-Sep-2011||Rs. 10 - 11||----|
|07-Sep-2011||Rs. 10 - 11||----|
|08-Sep-2011||Rs. 10 - 11||----|
|09-Sep-2011||Rs. 10 - 11||----|
|13-Sep-2011||Rs. 10 - 11||----|
|14-Sep-2011||Rs. 10 - 11||----|
|15-Sep-2011||Rs. 10 - 11||----|
Muthoot Finance NCD Bonds Subscription Details:
|09-Sep-2011||----||----||----||----||Rs. 745 Crore|