{"id":14187,"date":"2026-06-19T12:19:21","date_gmt":"2026-06-19T06:49:21","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=14187"},"modified":"2026-06-23T12:47:22","modified_gmt":"2026-06-23T07:17:22","slug":"muthoot-fincorp-limited-ncd-ipo-4","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-4\/","title":{"rendered":"Muthoot Fincorp NCD IPO: Issue Details, Returns, and Risks"},"content":{"rendered":"\n<p><strong>Summary:<\/strong> Muthoot Fincorp Limited launches a secured NCD public<strong> issue<\/strong> aggregating up to <strong>\u20b9600 crore<\/strong> (base \u20b9200 Cr <strong>+<\/strong> oversubscription \u20b9400 Cr). These NCDs are rated AA\/Stable by Crisil Ratings and AA\/Stable by Brickwork Ratings. The NCD issuance is structured across twelve distinct series. The coupon rates provided vary between 8.51% and 9.25% per annum, with available investment periods of 24, 36, 60, and 72 months.<\/p><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 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-4\/#Muthoot_fincorp_launches_ncd_issue_offering_yields_up_to_925\" >Muthoot fincorp launches ncd issue offering yields up to 9.25%<\/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-fincorp-limited-ncd-ipo-4\/#Key_Issue_Details\" >Key Issue Details<\/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-fincorp-limited-ncd-ipo-4\/#Tenures_Yields\" >Tenures &amp; Yields<\/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-fincorp-limited-ncd-ipo-4\/#Muthoot_Fincorp_Limited_NCD_IPO_Issue_Overview\" >Muthoot Fincorp Limited NCD IPO: Issue Overview<\/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-fincorp-limited-ncd-ipo-4\/#Muthoot_Fincorp_NCD_Interest_Rates_and_Effective_Yields\" >Muthoot Fincorp NCD Interest Rates and Effective Yields<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-4\/#Understanding_the_Allocation_Ratio\" >Understanding the Allocation Ratio<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-4\/#How_to_Apply_in_Muthoot_Fincorp_NCD_IPO_via_GoldenPi\" >How to Apply in Muthoot Fincorp NCD IPO via GoldenPi<\/a><\/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-fincorp-limited-ncd-ipo-4\/#Financial_Overview_of_Muthoot_Fincorp_Limited\" >Financial Overview of Muthoot Fincorp Limited<\/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-fincorp-limited-ncd-ipo-4\/#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-10\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-4\/#Should_You_Invest_Pros_and_Cons_of_Muthoot_Fincorp_NCD\" >Should You Invest? Pros and Cons of Muthoot Fincorp NCD<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-4\/#Must_Check_To_get_better_returns_than_Bank_FDs_invest_in_NCD-IPOs_online\" >Must Check: To get better returns than Bank FDs, invest in NCD-IPOs online.<\/a><\/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-fincorp-limited-ncd-ipo-4\/#About_Muthoot_Fincorp_Limited\" >About Muthoot Fincorp Limited:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-4\/#Invest_Now_Invest_in_Bond_IPO_online_in_just_5_minutes\" >Invest Now: Invest in Bond IPO online in just 5 minutes<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-4\/#Disclaimer_%E2%80%93\" >Disclaimer &#8211;<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Muthoot_fincorp_launches_ncd_issue_offering_yields_up_to_925\"><\/span>Muthoot fincorp launches ncd issue offering yields up to 9.25%<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Muthoot FinCorp&#8217;s Tranche IV NCD issue is live with an effective annual yield of up to 9.25%. The \u20b9600 crore issue is open for subscription and closes on July 3, 2026.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Issue_Details\"><\/span>Key Issue Details<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Total Issue Size:<\/strong> Up to \u20b9600 crore (\u20b9200 crore base issue + \u20b9400 crore green shoe option).<\/li>\n\n\n\n<li><strong>Face Value \/ Issue Price:<\/strong> \u20b91,000 per NCD.<\/li>\n\n\n\n<li><strong>Minimum Investment:<\/strong> \u20b910,000 (minimum 10 NCDs).<\/li>\n\n\n\n<li><strong>Credit Rating:<\/strong> &#8220;Crisil AA\/Stable&#8221; by CRISIL Ratings Limited and &#8220;BWR AA\/Stable&#8221; by Brickwork Ratings India Private Limited.<\/li>\n\n\n\n<li><strong>Listing:<\/strong> Proposed on the BSE<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tenures_Yields\"><\/span>Tenures &amp; Yields<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Investors can select from twelve distinct series across four different tenures:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Tenure Options:<\/strong> 24, 36, 60, and 72 months.<\/li>\n\n\n\n<li><strong>Yield Range:<\/strong> 8.84% to 9.25% p.a., with the maximum 9.25% yield available under the 72-month (6-year) cumulative option. <\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Muthoot_Fincorp_Limited_NCD_IPO_Issue_Overview\"><\/span><strong>Muthoot Fincorp Limited NCD IPO: Issue Overview<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Muthoot Fincorp Limited is issuing Secured, Redeemable Non-Convertible Debentures (NCDs). This issue is a strategic opportunity for investors looking for fixed-income assets with a high degree of safety.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Credit Rating:<\/strong> AA\/Stable (CRISIL) and AA\/Stable (BWR)<br><\/li>\n\n\n\n<li><strong>Yield Range:<\/strong> 8.84% to 9.25% p.a.<br><\/li>\n\n\n\n<li><strong>Tenures:<\/strong> 24, 36, 60, and 72 months.<br><\/li>\n\n\n\n<li><strong>Nature:<\/strong> Secured and Redeemable.<br><\/li>\n\n\n\n<li><strong>High Yield&nbsp;|&nbsp;CRISIL AA\/Stable &amp; BWR AA\/Stable Rated | Minimum Investment: 10k Only<\/strong><\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"859\" height=\"1024\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105300\/image-3-859x1024.png\" alt=\"\" class=\"wp-image-14188\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105300\/image-3-859x1024.png 859w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105300\/image-3-252x300.png 252w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105300\/image-3-768x916.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105300\/image-3-1288x1536.png 1288w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105300\/image-3.png 1484w\" sizes=\"(max-width: 859px) 100vw, 859px\" \/><\/figure>\n\n\n\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Muthoot_Fincorp_NCD_Interest_Rates_and_Effective_Yields\"><\/span><strong>Muthoot Fincorp NCD Interest Rates and Effective Yields<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The NCDs are being issued in twelve different series to cater to different investor needs, ranging from short-term liquidity to long-term wealth compounding<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><div class=\"pcrstb-wrap\"><table class=\"has-black-color has-cyan-bluish-gray-background-color has-text-color has-background has-link-color has-fixed-layout\"><thead><tr><th>Serie<strong>s<\/strong><\/th><th>Frequency of Interest Payment<\/th><th>Nature<\/th><th>Tenor<\/th><th>Coupon (% per Annum)<\/th><th>Effective Yield (% per Annum)<\/th><\/tr><\/thead><tbody><tr><td>1<\/td><td>Monthly<\/td><td>Secured<\/td><td>24 Months<\/td><td>8.51%<\/td><td>8.84%<\/td><\/tr><tr><td>2<\/td><td>Monthly<\/td><td>Secured<\/td><td>36 Months<\/td><td>8.65%<\/td><td>8.99%<\/td><\/tr><tr><td>3<\/td><td>Monthly<\/td><td>Secured<\/td><td>60 Months<\/td><td>8.79%<\/td><td>9.15%<\/td><\/tr><tr><td>4<\/td><td>Monthly<\/td><td>Secured<\/td><td>72 Months<\/td><td>8.88%<\/td><td>9.24%<\/td><\/tr><tr><td>5<\/td><td>Annual<\/td><td>Secured<\/td><td>24 Months<\/td><td>8.85%<\/td><td>8.84%<\/td><\/tr><tr><td>6<\/td><td>Annual<\/td><td>Secured<\/td><td>36 Months<\/td><td>9.00%<\/td><td>8.99%<\/td><\/tr><tr><td>7<\/td><td>Annual<\/td><td>Secured<\/td><td>60 Months<\/td><td>9.15%<\/td><td>9.14%<\/td><\/tr><tr><td>8<\/td><td>Annual<\/td><td>Secured<\/td><td>72 Months<\/td><td>9.25%<\/td><td>9.24%<\/td><\/tr><tr><td>9<\/td><td>Cumulative<\/td><td>Secured<\/td><td>24 Months<\/td><td>NA<\/td><td>8.85%<\/td><\/tr><tr><td>10<\/td><td>Cumulative<\/td><td>Secured<\/td><td>36 Months<\/td><td>NA<\/td><td>9.00%<\/td><\/tr><tr><td>11<\/td><td>Cumulative<\/td><td>Secured<\/td><td>60 Months<\/td><td>NA<\/td><td>9.15%<\/td><\/tr><tr><td>12<\/td><td>Cumulative<\/td><td>Secured<\/td><td>72 Months<\/td><td>NA<\/td><td>9.25%<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Understanding_the_Allocation_Ratio\"><\/span><strong>Understanding the Allocation Ratio<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>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. Once the IPO subscription closes, applications will be divided into different categories.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"608\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105449\/image-5-1024x608.png\" alt=\"\" class=\"wp-image-14190\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105449\/image-5-1024x608.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105449\/image-5-300x178.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105449\/image-5-768x456.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105449\/image-5-1536x912.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105449\/image-5.png 1959w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Recent NCD IPOs Update:<\/h3>\n\n\n<ul class=\"wp-block-latest-posts__list is-grid columns-3 aligncenter wp-block-latest-posts\"><li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-4\/\" aria-label=\"Muthoot Fincorp NCD IPO: Issue Details, Returns, and Risks\"><img decoding=\"async\" width=\"1024\" height=\"486\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/23124646\/blog-banner-1-1024x486.png\" class=\"attachment-large size-large wp-post-image\" alt=\"\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/23124646\/blog-banner-1-1024x486.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/23124646\/blog-banner-1-300x142.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/23124646\/blog-banner-1-768x364.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/23124646\/blog-banner-1.png 1160w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-4\/\">Muthoot Fincorp NCD IPO: Issue Details, Returns, and Risks<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/edelweiss-financial-services-limited-ncd-ipo-3\/\" aria-label=\"Edelweiss Financial Services Limited NCD IPO\"><img decoding=\"async\" width=\"1024\" height=\"486\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/05145901\/Blog-banner-6-1024x486.png\" class=\"attachment-large size-large wp-post-image\" alt=\"Edelweiss Financial Services NCD IPO\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/05145901\/Blog-banner-6-1024x486.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/05145901\/Blog-banner-6-300x142.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/05145901\/Blog-banner-6-768x364.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/05145901\/Blog-banner-6.png 1160w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/edelweiss-financial-services-limited-ncd-ipo-3\/\">Edelweiss Financial Services Limited NCD IPO<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-3\/\" aria-label=\"Muthoot Fincorp Limited NCD IPO\"><img decoding=\"async\" width=\"1024\" height=\"486\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/04\/27050948\/Blog-Banner-1-1024x486.png\" class=\"attachment-large size-large wp-post-image\" alt=\"\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/04\/27050948\/Blog-Banner-1-1024x486.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/04\/27050948\/Blog-Banner-1-300x142.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/04\/27050948\/Blog-Banner-1-768x364.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/04\/27050948\/Blog-Banner-1.png 1160w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/div><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-3\/\">Muthoot Fincorp Limited NCD IPO<\/a><\/li>\n<\/ul>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Apply_in_Muthoot_Fincorp_NCD_IPO_via_GoldenPi\"><\/span><strong>How to Apply in Muthoot Fincorp NCD IPO via GoldenPi<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Investing in Bond IPOs is now seamless. Follow these easy steps:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Log in to <a href=\"https:\/\/goldenpi.com\/\">GoldenPi<\/a>.<\/li>\n\n\n\n<li>Look for the &#8220;Search&#8221; option and type &#8220;Muthoot Fincorp.&#8221;<\/li>\n\n\n\n<li>Select Muthoot Fincorp NCD IPO&nbsp;<\/li>\n\n\n\n<li>Choose your series and apply via UPI.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"371\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105526\/image-6-1024x371.png\" alt=\"\" class=\"wp-image-14191\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105526\/image-6-1024x371.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105526\/image-6-300x109.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105526\/image-6-768x278.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105526\/image-6-1536x556.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105526\/image-6.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Financial_Overview_of_Muthoot_Fincorp_Limited\"><\/span><strong>Financial Overview of Muthoot Fincorp Limited<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>A deep dive into the company\u2019s balance sheet reveals a consistent growth trajectory in revenue and net worth.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Snapshot stating the Revenue, Expenses, PAT and Net-worth (In crores):<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"531\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105633\/image-7-1024x531.png\" alt=\"\" class=\"wp-image-14192\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105633\/image-7-1024x531.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105633\/image-7-300x156.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105633\/image-7-768x398.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105633\/image-7-1536x797.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105633\/image-7.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Cash Flow Analysis (In crore):<\/strong><\/h3>\n\n\n\n<p>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 cash movement.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>*Cash flow from operating activities reflects the amount a company generates through its products or services.<br><\/li>\n\n\n\n<li>**Cash flow from investing activities** reflects cash generated and spent relating to investing activities, like purchase of assets, sales of securities, etc.<br><\/li>\n\n\n\n<li>***Cash flow from financing activities gives an insight into the financial stability of a company to its investors. It reflects the net flows of cash that are used to fund the company.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"559\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105758\/image-8-1024x559.png\" alt=\"\" class=\"wp-image-14193\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105758\/image-8-1024x559.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105758\/image-8-300x164.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105758\/image-8-768x419.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105758\/image-8-1536x838.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19105758\/image-8.png 1865w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ratio_Analysis\"><\/span><strong>Ratio Analysis:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/06\/19122611\/Table%402x-1-1024x561.png\" alt=\"\" class=\"wp-image-14206\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Should_You_Invest_Pros_and_Cons_of_Muthoot_Fincorp_NCD\"><\/span><strong>Should You Invest? Pros and Cons of Muthoot Fincorp NCD<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Pros<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Robust Credit Profile:<\/strong> The NCDs are rated AA\/Stable by both CRISIL and BWR, reflecting a low risk of default and a high level of safety.<br><\/li>\n\n\n\n<li><strong>Positive Rating Momentum:<\/strong> CRISIL recently <strong><em>upgraded<\/em><\/strong> the rating from <strong><em>AA-\/Positive to AA\/Stable <\/em><\/strong>showing increased confidence in their business<br><\/li>\n\n\n\n<li><strong>Asset Protection:<\/strong> As senior secured NCDs, they offer enhanced protection for investors compared to unsecured alternatives.<br><\/li>\n\n\n\n<li><strong>Security Cover: <\/strong>The security cover required must be a minimum of 100% of the total of the outstanding principal balance of the NCDs and any accrued interest.<br><\/li>\n\n\n\n<li><strong>Competitive yields<\/strong>: up to 9.25% vs bank FDs<br><\/li>\n\n\n\n<li><strong>Wide tenor and payout frequencies: <\/strong>24\/36\/60\/72 Months and Monthly\/ Annual\/Cumulative interest payment payouts providing flexibility to investors.<br><\/li>\n\n\n\n<li><strong>BSE listed: <\/strong>Provides secondary market liquidity option.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Cons<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Exposure to Gold Loan Volatility:<\/strong> A large portion (approx. 88%) of business depends on gold loan pricing and demand cycles. Any adverse movement in collateral value could impact collections.<br><\/li>\n\n\n\n<li><strong>Interest Rate Risk:<\/strong> More pronounced in longer tenors (60-72 months).<br><\/li>\n\n\n\n<li><strong>Structural Subordination and Security <\/strong>Dilution: These NCDs are &#8220;subservient,&#8221; meaning if the company fails, major secured creditors (like Banks) get paid first, and you only get what\u2019s left over; additionally, you must share those remaining <strong>assets equally with all other NCD holders (Pari-Passu)<\/strong>, which reduces your individual chance of being fully repaid in case the company defaults.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Must_Check_To_get_better_returns_than_Bank_FDs_invest_in_NCD-IPOs_online\"><\/span><strong>Must Check:<\/strong> <a href=\"https:\/\/goldenpi.com\/bond-better-return-fds\"><strong>To get better returns than Bank FDs, invest in NCD-IPOs online.<\/strong><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"About_Muthoot_Fincorp_Limited\"><\/span><strong>About Muthoot Fincorp Limited:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Muthoot Fincorp Ltd. (MFL), incorporated in 1997 and registered with the RBI, is a Kerala-based, non-deposit-taking NBFC. It <strong>primarily<\/strong> offers small-ticket &#8220;gold<strong> loans\u201d against household gold <\/strong>jewelry, a segment where it has over two decades of experience.<\/p>\n\n\n\n<p>Muthoot Fincorp Ltd, the flagship entity of the diversified <strong>Muthoot Pappachan Group <\/strong>(also known as <strong>Muthoot Blue Group<\/strong>), also provides secured and unsecured MSME lending. Beyond lending, the company offers mutual fund and insurance distribution, foreign exchange\/money transfer services, operates as a Category II Depository Participant of CDSL, and owns wind power assets in Tamil Nadu.&nbsp;<\/p>\n\n\n\n<p>Its three subsidiaries are Muthoot<strong> Housing Finance<\/strong> (affordable housing loans), <strong>Muthoot Microfin<\/strong> (microcredit to women entrepreneurs), and <strong>Muthoot Pappachan Technologies<\/strong> (IT services). MFL has a strong pan-India presence, operating approx. 3,781 branches (31st March, 2026) across 25 states\/UTs, with a key presence in Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, and Maharashtra.<\/p>\n\n\n\n<p>To support its next phase of growth and strengthen its capital base, the company&#8217;s Board of Directors has approved an <em><strong>Initial Public Offering (IPO) <\/strong><\/em>aimed at raising up to <strong>\u20b94,000 crore.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Strengths<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Experienced management &amp; strong promoter commitment: <\/strong>Promoters hold a 99.87% equity stake, reflecting high confidence and long-term commitment; Muthoot Fincorp is part of the Muthoot Pappachan (Blue) Group with a 138+ years legacy, backed by promoters\u2019 deep, multi-decade expertise in gold loans and retail lending.<br><\/li>\n\n\n\n<li><strong>Predominantly secured retail portfolio: <\/strong>~96% of AUM is secured, with ~88% backed by gold jewelry and ~8% through mortgages (home loans and LAP), supporting a low-risk, small-ticket retail lending model with strong collateral cover and high recoverability.<br><\/li>\n\n\n\n<li><strong>Adequate Capitalization: <\/strong>Net worth stood at \u20b96,267 Cr as of Mar \u201926, supported by strong internal accruals. Gearing is moderate at 6.61x, while a healthy CRAR of 18.00% (<strong>vs. RBI minimum requirement of 15%<\/strong>) provides adequate buffers to support growth and maintain financial stability.<br><\/li>\n\n\n\n<li><strong>AUM Growth: <\/strong>AUM rose to \u20b946,193 Cr as of FY26 (vs. \u20b926,031 Cr in FY25 &amp; \u20b921,712 Cr in FY24). The efficiency at the branch level also saw a significant boost, with AUM\/branch increasing to \u20b915.2 Cr in FY26 (vs \u20b99 Cr in FY25)<br><\/li>\n\n\n\n<li><strong>Improving profitability profile: <\/strong>PAT increased to \u20b91640 Cr in FY26 (vs \u20b9787 Cr in FY25 &amp; \u20b9563 Cr in FY24), with Return on Managed Assets (RoMA) improving to 3.1% in FY26 (vs 2.3% in FY25 &amp; 2.1% in FY24), driven by strong core gold loan performance.<br><\/li>\n\n\n\n<li><strong>Healthy Asset Quality: <\/strong>GNPA improved to 1.03% (Mar &#8217;26) vs 1.98% (Mar \u201925), reflecting strong collection efficiency and low delinquencies in the gold loan book.<br><\/li>\n\n\n\n<li><strong>Diversified funding profile: <\/strong>Funding is well diversified, with access to a wide network of PSU Banks (SBI, PNB, BoB) and private banks (HDFC, Axis, IndusInd, Federal), alongside capital market instruments (NCDs, ECBs, Subdebt, CP), supporting funding stability and refinancing flexibility.<br><\/li>\n\n\n\n<li><strong>Strong liquidity:<\/strong> As of Mar \u20182026, Muthoot Fincorp had liquidity of \u20b92,534 Cr (\u20b91,981 Cr cash &amp; equivalents + \u20b9553 Cr undrawn CC\/WCDL), with positive ALM gaps in the up to 1-year bucket, comfortably covering near-term debt repayments of \u20b92,334 Cr over the next two months (June 2026 and July 2026)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Weakness<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Regional Concentration Risk: <\/strong>Around 55% of business comes from just five states (Karnataka, Tamil Nadu, Telangana, Andhra Pradesh, and Maharashtra). This makes the company vulnerable to local economic issues, though this is an improvement from 70% in 2019.<br><\/li>\n\n\n\n<li><strong>High reliance on the gold loan segment: <\/strong>While gold loans are a strength, high business concentration limits diversification benefits and makes earnings sensitive to regulatory changes (RBI\u2019s LTV ratio) or sharp volatility in gold prices.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Invest_Now_Invest_in_Bond_IPO_online_in_just_5_minutes\"><\/span><strong>Invest Now:<\/strong> <a href=\"https:\/\/goldenpi.com\/bond-ipo-online\"><strong>Invest in Bond IPO online in just 5 minutes<\/strong><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Source<\/strong>\u2014Tranche IV Prospectus June 16, 2026<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Disclaimer_%E2%80%93\"><\/span><strong>Disclaimer &#8211;<\/strong> <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The information is published as of date 19\/06\/2026 based on information available on the Tranche IV Prospectus, June 16, 2026. The information may be subject to change in case there is a change in terms of the prospectus or for any other reason as the case may be. Contents that are exclusively for educational information\/knowledge sharing on capital market concepts and have no influence on the investment\/sale decisions of any investors.<\/p>\n\n\n\n<script type=\"application\/ld+json\">\n[\n  {\n    \"@context\": \"https:\/\/schema.org\",\n    \"@type\": \"BlogPosting\",\n    \"@id\": \"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-4\/#article\",\n    \"isPartOf\": {\n      \"@id\": \"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-4\/\"\n    },\n    \"headline\": \"Muthoot Fincorp NCD IPO: Issue Details, Returns, and Risks\",\n    \"description\": \"An analysis of the Muthoot Fincorp Limited Tranche IV secured NCD IPO aggregating up to \u20b9600 crore. 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Cr).&hellip;<\/p>\n","protected":false},"author":12,"featured_media":14294,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[113,25],"tags":[],"class_list":["post-14187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ncd-ipo","category-bond-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Muthoot Fincorp NCD IPO: Issue Details, 9.25%, and Tenure<\/title>\n<meta name=\"description\" content=\"Explore the Muthoot Fincorp NCD IPO, including issue size, interest rates, credit ratings, tenure options, risks, and whether it is suitable for fixed-income investors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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