{"id":11104,"date":"2025-12-15T10:09:15","date_gmt":"2025-12-15T10:09:15","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=11104"},"modified":"2026-04-15T07:12:09","modified_gmt":"2026-04-15T07:12:09","slug":"muthoot-mercantile-limited-ncd-ipo-2","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/","title":{"rendered":"MUTHOOT MERCANTILE LIMITED NCD IPO"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#High_Yield_BBBStable_Rated_Minimum_Investment_10k_Only\" >High Yield\u00a0|\u00a0BBB\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#Muthoot_Mercantile_Limited_NCD_IPO_Coupon_rates_and_effective_yield_for_each_of_the_series\" >Muthoot Mercantile Limited NCD IPO: Coupon rates and effective yield for each of the series<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#Allocation_Ratio\" >Allocation Ratio<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#Investment_Process_for_Muthoot_Mercantile_Limited_NCD_IPO\" >Investment Process for Muthoot Mercantile Limited NCD IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#Financial_Overview\" >Financial Overview<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#Snapshot_stating_the_Total_Income_Expenses_PAT_and_Net_Worth_Amount_In_Rs_Cr\" >Snapshot stating the Total Income, Expenses, PAT and Net Worth\u00a0\u00a0( Amount In Rs. Cr)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#Cash_flow_for_last_few_years_Amount_In_Rs_Cr\" >Cash flow for last few years ( Amount In\u00a0 Rs. Cr)<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#Ratio_Analysis\" >Ratio Analysis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#Issue_analysis\" >Issue analysis<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#Pros\" >Pros\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#Cons\" >Cons\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#_To_get_better_returns_than_Bank_FDs_invest_in_NCD-IPOs_online\" >\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0To get better returns than Bank FDs, invest in NCD-IPOs online.\u00a0<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#i\" >\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#About_Muthoot_Mercantile_Limited\" >About Muthoot Mercantile Limited\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#Strengths\" >Strengths<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#Weakness\" >Weakness<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#_Invest_in_Bond_IPO_online_in_just_5_minutes\" >\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Invest in Bond IPO online in just 5 minutes<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"High_Yield_BBBStable_Rated_Minimum_Investment_10k_Only\"><\/span><b>High Yield\u00a0|\u00a0BBB\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Muthoot Mercantile Limited is issuing the<a href=\"https:\/\/goldenpi.com\/blog\/essentials\/bond-market\/what-is-the-difference-between-convertible-and-non-convertible-debentures\/\"> Non-Convertible Debentures<\/a>. These NCDs are BBB\/Stable rated by India Ratings and Research. The NCDs are being issued in nine series: coupon ranges from 9.5% to 10.75% p.a. and different tenures of 400 days, 24 months, 36 months, 60 months and 75 months. The NCDs are senior secured and redeemable in nature.\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\" wp-image-11133 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102913\/Brief-Discription-1-263x300.png\" alt=\"MUTHOOT MERCANTILE LIMITED \" width=\"737\" height=\"841\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102913\/Brief-Discription-1-263x300.png 263w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102913\/Brief-Discription-1-896x1024.png 896w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102913\/Brief-Discription-1-1344x1536.png 1344w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102913\/Brief-Discription-1-1170x1337.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102913\/Brief-Discription-1-585x669.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102913\/Brief-Discription-1.png 1750w\" sizes=\"(max-width: 737px) 100vw, 737px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Muthoot_Mercantile_Limited_NCD_IPO_Coupon_rates_and_effective_yield_for_each_of_the_series\"><\/span><b>Muthoot Mercantile Limited NCD IPO: <\/b><b>Coupon rates and effective yield for each of the series<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\" wp-image-11136 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15103117\/Screenshot-2025-12-15-123103-1-300x141.png\" alt=\"MUTHOOT MERCANTILE LIMITED \" width=\"800\" height=\"376\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15103117\/Screenshot-2025-12-15-123103-1-300x141.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15103117\/Screenshot-2025-12-15-123103-1-768x362.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15103117\/Screenshot-2025-12-15-123103-1-585x276.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15103117\/Screenshot-2025-12-15-123103-1.png 1020w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Allocation_Ratio\"><\/span><b>Allocation Ratio<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The allocation ratio is prepared based on norms laid down by SEBI. Before announcing the allocation ratio, the same has to be approved by SEBI.\u00a0 Once the IPO subscription closes, applications will be divided into different categories. The category-wise allocation ratio is always decided and declared during the launch of the particular IPO. Considering the Allocation Ratio, units will be assigned to applicants. Refer to the chart to know the application ratio for Muthoot Mercantile Limited NCD-IPO.<\/span><\/p>\n<p><img decoding=\"async\" class=\" wp-image-11127 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102403\/Allocation-Ratio-300x190.png\" alt=\"MUTHOOT MERCANTILE LIMITED \" width=\"599\" height=\"380\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102403\/Allocation-Ratio-300x190.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102403\/Allocation-Ratio-1024x648.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102403\/Allocation-Ratio-768x486.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102403\/Allocation-Ratio-1536x972.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102403\/Allocation-Ratio-2048x1296.png 2048w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102403\/Allocation-Ratio-1170x740.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102403\/Allocation-Ratio-1920x1215.png 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102403\/Allocation-Ratio-585x370.png 585w\" sizes=\"(max-width: 599px) 100vw, 599px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Investment_Process_for_Muthoot_Mercantile_Limited_NCD_IPO\"><\/span><b>Investment Process for <\/b><b>Muthoot Mercantile Limited<\/b><b> NCD IPO<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">You can invest in IPOs via GoldenPi in these easy steps. <\/span><\/p>\n<p><img decoding=\"async\" class=\" wp-image-11130 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102723\/Process-300x120.png\" alt=\"MUTHOOT MERCANTILE LIMITED \" width=\"830\" height=\"332\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102723\/Process-300x120.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102723\/Process-768x306.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102723\/Process-585x233.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15102723\/Process.png 906w\" sizes=\"(max-width: 830px) 100vw, 830px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Financial_Overview\"><\/span><b>Financial Overview<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h4><span class=\"ez-toc-section\" id=\"Snapshot_stating_the_Total_Income_Expenses_PAT_and_Net_Worth_Amount_In_Rs_Cr\"><\/span><b>Snapshot stating the Total Income, Expenses, PAT and Net Worth\u00a0<\/b><strong>\u00a0( Amount<\/strong> <b>In Rs. Cr)<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><img decoding=\"async\" class=\" wp-image-11139 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15103425\/Total-income-Expenses-PAT-and-Net-Worth-300x167.png\" alt=\"MUTHOOT MERCANTILE LIMITED \" width=\"869\" height=\"484\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15103425\/Total-income-Expenses-PAT-and-Net-Worth-300x167.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15103425\/Total-income-Expenses-PAT-and-Net-Worth-1024x570.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15103425\/Total-income-Expenses-PAT-and-Net-Worth-768x427.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15103425\/Total-income-Expenses-PAT-and-Net-Worth-1536x854.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15103425\/Total-income-Expenses-PAT-and-Net-Worth-2048x1139.png 2048w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15103425\/Total-income-Expenses-PAT-and-Net-Worth-1170x651.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15103425\/Total-income-Expenses-PAT-and-Net-Worth-1920x1068.png 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15103425\/Total-income-Expenses-PAT-and-Net-Worth-585x325.png 585w\" sizes=\"(max-width: 869px) 100vw, 869px\" \/><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Cash_flow_for_last_few_years_Amount_In_Rs_Cr\"><\/span><b>Cash flow for last few years ( Amount In\u00a0 Rs. Cr)<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><img decoding=\"async\" class=\" wp-image-11146 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15104234\/Cashflow-300x171.png\" alt=\"MUTHOOT MERCANTILE LIMITED NCD IPO\" width=\"809\" height=\"461\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15104234\/Cashflow-300x171.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15104234\/Cashflow-1024x584.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15104234\/Cashflow-768x438.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15104234\/Cashflow-1536x876.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15104234\/Cashflow-1170x667.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15104234\/Cashflow-1920x1095.png 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15104234\/Cashflow-585x334.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15104234\/Cashflow.png 1925w\" sizes=\"(max-width: 809px) 100vw, 809px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Cash flow refers to the movement of cash in and out of the business at a specific point in time. It represents the net balance of the <a href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/how-do-people-generate-monthly-income-without-jobs\/\">cash<\/a> movement.<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">*Cash flow from operating activities reflects the amount a company generates through its product of services.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">**Cash flow from investing activities reflects cash generated and spent relating to investing activities, like purchase of assets, sales of securities etc.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><span style=\"font-weight: 400;\">***Cash flow from financing activities gives an insight into the financial stability of a company to its investors. It reflects <\/span><span style=\"font-weight: 400;\">the net flows of cash that are used to fund the company.<\/span><\/b><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Ratio_Analysis\"><\/span><b>Ratio Analysis<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\" wp-image-11150 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15104711\/Ratios-300x142.jpeg\" alt=\"MUTHOOT MERCANTILE LIMITED \" width=\"865\" height=\"409\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15104711\/Ratios-300x142.jpeg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15104711\/Ratios-768x364.jpeg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15104711\/Ratios-585x278.jpeg 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/15104711\/Ratios.jpeg 900w\" sizes=\"(max-width: 865px) 100vw, 865px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Issue_analysis\"><\/span><b>Issue analysis<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h4><span class=\"ez-toc-section\" id=\"Pros\"><\/span><b>Pros\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The NCD is<a href=\"https:\/\/goldenpi.com\/blog\/essentials\/bond-market\/not-sure-if-a-bond-is-safe\/\"> BBB rated<\/a> security with a stable outlook.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The coupon rate is between 9.50% to 10.75% which is much higher than FDs.<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Cons\"><\/span><b>Cons\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>High Gold Loan Concentration<\/b><span style=\"font-weight: 400;\"> \u2013 Vulnerable to gold price volatility and regulatory changes in gold financing.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Limited Lender Diversification<\/b><span style=\"font-weight: 400;\"> \u2013 Relies on only five major lenders, increasing refinancing risk.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"_To_get_better_returns_than_Bank_FDs_invest_in_NCD-IPOs_online\"><\/span>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<a href=\"https:\/\/goldenpi.com\/bond-better-return-fds\"><b>\u00a0To get better returns than Bank FDs, invest in NCD-IPOs online.\u00a0<\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h4><span class=\"ez-toc-section\" id=\"i\"><\/span><span style=\"font-weight: 400;\">\u00a0<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<h4><span class=\"ez-toc-section\" id=\"About_Muthoot_Mercantile_Limited\"><\/span><b>About <\/b><b>Muthoot Mercantile Limited\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-july-2025-should-you-invest\/\">Muthoot Mercantile Limited (MML)<\/a> was established as a Public Limited Company in 1997 and obtained registration as a Non-Banking Finance Company from the Reserve Bank of India in 2002. As a prominent NBFC, Muthoot Mercantile Limited serves as the flagship entity of the Muthoot Ninan Group, founded by the late M. Ninan Muthoot in 1939. The company specializes in providing loans secured against gold.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Strengths\"><\/span><b>Strengths<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Experienced Promoters<\/b> <b>: <\/b><span style=\"font-weight: 400;\">Backed by the Muthoot Ninan Group with deep expertise in gold loans; promoter Mathew Mathaininan brings 60+ years of financial services experience, and MD Richi Mathew brings 20+ years.<\/span><\/li>\n<li aria-level=\"1\"><b>Long Track Record in Gold Lending: <span style=\"font-weight: 400;\">MML has over 20 years operating in the gold loan business, with demonstrated ability to navigate gold price cycles while maintaining stable asset quality.<\/span><\/b><\/li>\n<li aria-level=\"1\"><b>Robust Capital Base:<\/b><span style=\"font-weight: 400;\"> Muthoot Mercantile Limited (MML) reported a strong capital adequacy ratio (CAR) of 25.4% in FY25, significantly higher than regulatory mandates, ensuring a solid risk cushion.<\/span><\/li>\n<li aria-level=\"1\"><b>Stable Profitability:<\/b><span style=\"font-weight: 400;\"> Despite a dip in net interest margin (NIM) to 10% (FY24: 11.2%) due to higher funding costs (11.4% vs. 10.7%), MML posted a PAT of \u20b928 Crore in FY25, with an RoA of 3.14%.<\/span><\/li>\n<li aria-level=\"1\"><b>Adequate Liquidity:<span style=\"font-weight: 400;\"> No negative mismatches in the up-to-one-year ALM buckets (Sep\u201925), supported by short-tenor assets (~9 months) and longer-tenor liabilities (3\u20135 years).<\/span><\/b><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Weakness\"><\/span><b>Weakness<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>High Funding Concentration Risk:<\/b><span style=\"font-weight: 400;\"> MML\u2019s funding structure remains heavily reliant on a limited number of sources. Bank borrowings declined to 30% of total funding in FY25 (vs. 35.4% in FY24 and 47.4% in FY23), while non-convertible debentures (NCDs) gained a larger share. Notably, the company depends on just five lenders, increasing refinancing risks.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Exposure to Gold-Linked Risks:<\/b><span style=\"font-weight: 400;\"> Nearly 99.5% of MML\u2019s AUM is tied to gold loans, making it vulnerable to fluctuations in gold prices and potential regulatory shifts in gold financing policies.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Geographical concentration risk: <span style=\"font-weight: 400;\">Despite pan-India presence, ~60.4% of the loan book is concentrated in three states- Kerala, Odisha &amp; Maharashtra &#8211; exposing the portfolio to localized policy, socio-political &amp; natural disruption risks.<\/span><\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Commodity &amp; Regulatory Vulnerabilities:<\/b> The heavy dependence on gold loans exposes MML to commodity price volatility and changes in gold lending regulations, which could impact profitability and asset quality.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h1><span class=\"ez-toc-section\" id=\"_Invest_in_Bond_IPO_online_in_just_5_minutes\"><\/span><a href=\"https:\/\/goldenpi.com\/bond-ipo-online\"><b>\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Invest in Bond IPO online in just 5 minutes<\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><strong>Source &#8211;<\/strong> Prospectus December 01, 2025\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><strong>Disclaime<\/strong>r <strong>&#8211;<\/strong> <\/span><span style=\"font-weight: 400;\">The information is published as on date 15\/12\/2025 based on information available on Prospectus December 01, 2025. The information may be subject to change in case of change in terms of prospectus or any other reason as the case maybe. Contents which are exclusively for educational information\/knowledge sharing on capital market concepts and has no influence the investment\/sale decisions of any investors<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>High Yield\u00a0|\u00a0BBB\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only Muthoot Mercantile Limited is issuing the Non-Convertible Debentures. These NCDs are BBB\/Stable rated by India Ratings&hellip;<\/p>\n","protected":false},"author":12,"featured_media":11335,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[113,26],"tags":[37,94],"class_list":["post-11104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ncd-ipo","category-investment-guide","tag-bond-investment","tag-ncd-ipo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MUTHOOT MERCANTILE LIMITED NCD IPO - GoldenPi | Blogs<\/title>\n<meta name=\"description\" content=\"Investing in Muthoot Mecantile NCD IPO ? Read this blog to understand.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MUTHOOT MERCANTILE LIMITED NCD IPO - GoldenPi | Blogs\" \/>\n<meta property=\"og:description\" content=\"Investing in Muthoot Mecantile NCD IPO ? Read this blog to understand.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/\" \/>\n<meta property=\"og:site_name\" content=\"GoldenPi | Blogs\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/goldenpitech\" \/>\n<meta property=\"article:published_time\" content=\"2025-12-15T10:09:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-15T07:12:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/05090932\/Banner-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1160\" \/>\n\t<meta property=\"og:image:height\" content=\"550\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@GoldenPiTech\" \/>\n<meta name=\"twitter:site\" content=\"@GoldenPiTech\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/\",\"url\":\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/\",\"name\":\"MUTHOOT MERCANTILE LIMITED NCD IPO - GoldenPi | Blogs\",\"isPartOf\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/05090932\/Banner-1.png\",\"datePublished\":\"2025-12-15T10:09:15+00:00\",\"dateModified\":\"2026-04-15T07:12:09+00:00\",\"author\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/8fffcb995eff157311f79cee9f9c434e\"},\"description\":\"Investing in Muthoot Mecantile NCD IPO ? Read this blog to understand.\",\"breadcrumb\":{\"@id\":\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#primaryimage\",\"url\":\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/05090932\/Banner-1.png\",\"contentUrl\":\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/05090932\/Banner-1.png\",\"width\":1160,\"height\":550,\"caption\":\"Muthoot mercantile NCD IPO\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/goldenpi.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"MUTHOOT MERCANTILE LIMITED NCD IPO\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/goldenpi.com\/blog\/#website\",\"url\":\"https:\/\/goldenpi.com\/blog\/\",\"name\":\"GoldenPi | Blogs\",\"description\":\"All about bonds online in India\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/goldenpi.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/8fffcb995eff157311f79cee9f9c434e\",\"name\":\"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7062248246027b0aedfd7cbfff55df421eed88ab12aad78b5763d39c7ccac40b?s=96&d=https%3A%2F%2Fd2zny4996dl67j.cloudfront.net%2Fblogs%2Fwp-content%2Fuploads%2F2026%2F01%2F12111941%2FAbhijit-512x512-1-1-150x150.png&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7062248246027b0aedfd7cbfff55df421eed88ab12aad78b5763d39c7ccac40b?s=96&d=https%3A%2F%2Fd2zny4996dl67j.cloudfront.net%2Fblogs%2Fwp-content%2Fuploads%2F2026%2F01%2F12111941%2FAbhijit-512x512-1-1-150x150.png&r=g\",\"caption\":\"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi\"},\"description\":\"With over 15 years of experience across fixed income and debt markets, he brings deep domain expertise along with a strong focus on investor education and transparency. An alumnus of IIT Kharagpur and IIM Calcutta, his views are personal and should not be considered investment advice.\",\"url\":\"https:\/\/goldenpi.com\/blog\/author\/abhishek_tanwar\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"MUTHOOT MERCANTILE LIMITED NCD IPO - GoldenPi | Blogs","description":"Investing in Muthoot Mecantile NCD IPO ? Read this blog to understand.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/","og_locale":"en_US","og_type":"article","og_title":"MUTHOOT MERCANTILE LIMITED NCD IPO - GoldenPi | Blogs","og_description":"Investing in Muthoot Mecantile NCD IPO ? Read this blog to understand.","og_url":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/","og_site_name":"GoldenPi | Blogs","article_publisher":"https:\/\/www.facebook.com\/goldenpitech","article_published_time":"2025-12-15T10:09:15+00:00","article_modified_time":"2026-04-15T07:12:09+00:00","og_image":[{"width":1160,"height":550,"url":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/05090932\/Banner-1.png","type":"image\/png"}],"author":"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi","twitter_card":"summary_large_image","twitter_creator":"@GoldenPiTech","twitter_site":"@GoldenPiTech","twitter_misc":{"Written by":"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/","url":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/","name":"MUTHOOT MERCANTILE LIMITED NCD IPO - GoldenPi | Blogs","isPartOf":{"@id":"https:\/\/goldenpi.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#primaryimage"},"image":{"@id":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#primaryimage"},"thumbnailUrl":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/05090932\/Banner-1.png","datePublished":"2025-12-15T10:09:15+00:00","dateModified":"2026-04-15T07:12:09+00:00","author":{"@id":"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/8fffcb995eff157311f79cee9f9c434e"},"description":"Investing in Muthoot Mecantile NCD IPO ? Read this blog to understand.","breadcrumb":{"@id":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#primaryimage","url":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/05090932\/Banner-1.png","contentUrl":"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/12\/05090932\/Banner-1.png","width":1160,"height":550,"caption":"Muthoot mercantile NCD IPO"},{"@type":"BreadcrumbList","@id":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-2\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/goldenpi.com\/blog\/"},{"@type":"ListItem","position":2,"name":"MUTHOOT MERCANTILE LIMITED NCD IPO"}]},{"@type":"WebSite","@id":"https:\/\/goldenpi.com\/blog\/#website","url":"https:\/\/goldenpi.com\/blog\/","name":"GoldenPi | Blogs","description":"All about bonds online in India","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/goldenpi.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/8fffcb995eff157311f79cee9f9c434e","name":"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/goldenpi.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7062248246027b0aedfd7cbfff55df421eed88ab12aad78b5763d39c7ccac40b?s=96&d=https%3A%2F%2Fd2zny4996dl67j.cloudfront.net%2Fblogs%2Fwp-content%2Fuploads%2F2026%2F01%2F12111941%2FAbhijit-512x512-1-1-150x150.png&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7062248246027b0aedfd7cbfff55df421eed88ab12aad78b5763d39c7ccac40b?s=96&d=https%3A%2F%2Fd2zny4996dl67j.cloudfront.net%2Fblogs%2Fwp-content%2Fuploads%2F2026%2F01%2F12111941%2FAbhijit-512x512-1-1-150x150.png&r=g","caption":"Abhijit Roy, CEO &amp; CO-Founder - GoldenPi"},"description":"With over 15 years of experience across fixed income and debt markets, he brings deep domain expertise along with a strong focus on investor education and transparency. An alumnus of IIT Kharagpur and IIM Calcutta, his views are personal and should not be considered investment advice.","url":"https:\/\/goldenpi.com\/blog\/author\/abhishek_tanwar\/"}]}},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts\/11104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/comments?post=11104"}],"version-history":[{"count":27,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts\/11104\/revisions"}],"predecessor-version":[{"id":13197,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/posts\/11104\/revisions\/13197"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/media\/11335"}],"wp:attachment":[{"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/media?parent=11104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/categories?post=11104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goldenpi.com\/blog\/wp-json\/wp\/v2\/tags?post=11104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}