CRISIL

Non-banking finance company Muthoot FinCorp has picked Veefin Solutions Ltd as a technology partner to start supply chain finance (SCF) operations in India. Muthoot Fincorp will deploy Veefin's suite of solutions across all SCF products, which include onboarding suppliers and vendors, underwriting their loans and managing transactions on the Loan Management Solution.

Muthoot FinCorp partners with Veefin Solutions to start supply chain finance operations

Muthoot FinCorp Limited, announced XVI Tranche III series of secured, redeemable, non-convertible debentures (NCDs) to raise an amount aggregating up to ₹300 crores, which is within the shelf limit of ₹1,100 crore. The third tranche issuance amounts to ₹75 crore with a green shoe option of ₹225 crore aggregating up to ₹300 crore

Muthoot FinCorp to raise ₹300 crore through public issue of secure NCDs

High geographical concentration persists, with South India accounting for around 60% of the gold loan portfolio as on March 31, 2023.

The non-gold segments accounted for 43% of the overall portfolio as on March 31, 2023. While MPG has managed to grow these businesses and increase the segmental share over the last 2-3 years, potential challenges linked to seasoning of the loan book and asset quality will remain.

The issuer has made timely interest payments.

Mr. Thomas John Muthoot, Chairman and MD

Mr. Thomas Muthoot, ED & CFO

MFL is the third largest gold loan non-banking financial company (NBFC). The promoters have spent over seven decades in the business of lending against gold jewelry. Over the years, the group has established a strong reputation and brand in South India and has an appropriate assessment and underwriting methodology.

MPG has diversified its product profile over the past few years. Currently, the group operates in five major segments: loan against gold jewellery, two-wheeler finance, microfinance, housing finance and small business loans.

MFL's profitability, on standalone basis, has improved in fiscal 2021 on account of higher returns from the gold business during the pandemic, steady reduction in overall opex cost over the years and overall low credit costs.

10.05%Muthoot Fincorp Limited 31 May 2029

ISIN:

INE549K08426

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Subordinated Tier 2

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Muthoot Fincorp Limited

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Muthoot FinCorp partners with Veefin Solutions to start supply chain finance operations

Muthoot FinCorp to raise ₹300 crore through public issue of secure NCDs

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