
{"id":16046,"date":"2026-09-07T17:28:07","date_gmt":"2026-09-07T11:58:07","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=16046"},"modified":"2026-09-07T19:35:54","modified_gmt":"2026-09-07T14:05:54","slug":"muthoot-fincorp-limited-ncd-ipo-tranche-5-september-2026","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-tranche-5-september-2026\/","title":{"rendered":"Muthoot Fincorp Limited NCD IPO September 2026: Should You Invest? Interest Rates, Review, Dates &amp; Credit Rating"},"content":{"rendered":"<div class=\"gpi-custom-widget-box\" style=\"border-left-color: #0066cc; background-color: #f0f7ff;\">\n<div class=\"gpi-custom-widget-title\" style=\"color: #0066cc;\">\ud83d\udcdd Quick Summary:<\/div>\n<h2 class=\"gpi-custom-widget-h2-content\"><span class=\"ez-toc-section\" id=\"The_Muthoot_Fincorp_Limited_NCD_IPO_opens_on_Tuesday_September_8_2026_and_closes_on_Tuesday_September_22_2026_It_aims_to_raise_up_to_%E2%82%B9700_Crore_through_secured_redeemable_Non-Convertible_Debentures_NCDs_under_a_total_approved_Shelf_Prospectus_of_%E2%82%B93000_Crore_This_Tranche_V_offering_consists_of_a_Base_Issue_size_of_%E2%82%B9350_Crore_with_a_Green_Shoe_option_to_retain_oversubscription_up_to_%E2%82%B9350_crore\"><\/span><span style=\"font-weight: 400;\">The <\/span><b>Muthoot Fincorp Limited NCD IPO<\/b><span style=\"font-weight: 400;\"> opens on <\/span><b>Tuesday, September 8, 2026,<\/b><span style=\"font-weight: 400;\"> and closes on <\/span><b>Tuesday, September 22, 2026<\/b><span style=\"font-weight: 400;\"> . It aims to raise up to <\/span><b>\u20b9700 Crore<\/b><span style=\"font-weight: 400;\">\u00a0 through secured, redeemable, Non-Convertible Debentures (NCDs)\u00a0 under a total approved <\/span><b>Shelf Prospectus of \u20b93,000 Crore.<\/b><span style=\"font-weight: 400;\"> This Tranche V offering consists of a <\/span><b>Base Issue size of \u20b9350 Crore<\/b><span style=\"font-weight: 400;\"> with a Green Shoe option to retain oversubscription up to <\/span><b>\u20b9350 crore.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n\n\n<p>The issue offers highly competitive coupon rates of up to <strong>9.25% per annum<\/strong> (for Series 8, 72 Months, Annual payout), making it an attractive fixed-income choice in the current market environment. The net proceeds of this public issue will be utilized primarily for onward lending, financing, and refinancing\/repayment of existing borrowings, as well as general corporate purposes.<\/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-tranche-5-september-2026\/#The_Muthoot_Fincorp_Limited_NCD_IPO_opens_on_Tuesday_September_8_2026_and_closes_on_Tuesday_September_22_2026_It_aims_to_raise_up_to_%E2%82%B9700_Crore_through_secured_redeemable_Non-Convertible_Debentures_NCDs_under_a_total_approved_Shelf_Prospectus_of_%E2%82%B93000_Crore_This_Tranche_V_offering_consists_of_a_Base_Issue_size_of_%E2%82%B9350_Crore_with_a_Green_Shoe_option_to_retain_oversubscription_up_to_%E2%82%B9350_crore\" >The Muthoot Fincorp Limited NCD IPO opens on Tuesday, September 8, 2026, and closes on Tuesday, September 22, 2026 . It aims to raise up to \u20b9700 Crore\u00a0 through secured, redeemable, Non-Convertible Debentures (NCDs)\u00a0 under a total approved Shelf Prospectus of \u20b93,000 Crore. This Tranche V offering consists of a Base Issue size of \u20b9350 Crore with a Green Shoe option to retain oversubscription up to \u20b9350 crore.<\/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-tranche-5-september-2026\/#Muthoot_Fincorp_NCD_%E2%80%93_Key_Issue_Details\" >Muthoot Fincorp NCD \u2013 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-tranche-5-september-2026\/#What_is_the_Muthoot_Fincorp_NCD_IPO\" >What is the Muthoot Fincorp NCD IPO?<\/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-tranche-5-september-2026\/#NCD_Issue_Details\" >NCD Issue Details<\/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-tranche-5-september-2026\/#Interest_Rate_Series_Details\" >Interest Rate &amp; Series Details<\/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-tranche-5-september-2026\/#Investor_Category_Allocation\" >Investor Category Allocation<\/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-tranche-5-september-2026\/#Muthoot_Fincorp_Overview\" >Muthoot Fincorp Overview<\/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-tranche-5-september-2026\/#Financial_Performance_Consolidated\" >Financial Performance (Consolidated)<\/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-tranche-5-september-2026\/#NCD_vs_Fixed_Deposit\" >NCD vs. Fixed Deposit<\/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-tranche-5-september-2026\/#How_to_Apply_for_NCD_IPO\" >How to Apply for NCD IPO<\/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-tranche-5-september-2026\/#My_Investment_Verdict\" >My Investment Verdict*<\/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-tranche-5-september-2026\/#My_Verdict\" >My Verdict<\/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-tranche-5-september-2026\/#Muthoot_Fincorp_NCD_IPO_Frequently_Asked_Questions\" >Muthoot Fincorp NCD IPO Frequently Asked Questions<\/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-tranche-5-september-2026\/#Conclusion\" >Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-tranche-5-september-2026\/#Disclaimer\" >Disclaimer<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n\n<p>In this comprehensive review, we cover everything investors need to know, including issue details, interest rates, financial performance, credit rating, security cover, risks, taxation, and our expert verdict on whether the NCD is worth considering.<\/p>\n\n\n\n<style>\n  .gp-ncd-table-wrap {\n    max-width: 950px;\n    margin: 32px auto;\n    background: #ffffff;\n    border: 1px solid #dce5f2;\n    border-radius: 14px;\n    overflow: hidden;\n    box-shadow: 0 6px 24px rgba(25, 56, 109, 0.08);\n    font-family: -apple-system, BlinkMacSystemFont, \"Segoe UI\", Roboto, Arial, sans-serif;\n  }\n\n  .gp-ncd-table-header {\n    background: #19386d;\n    padding: 20px 24px;\n  }\n\n  .gp-ncd-table-header h2 {\n    margin: 0;\n    color: #ffffff;\n    font-size: 21px;\n    font-weight: 700;\n    line-height: 1.3;\n  }\n\n  .gp-ncd-table-header p {\n    margin: 5px 0 0;\n    color: #dce7f7;\n    font-size: 13px;\n  }\n\n  .gp-ncd-table {\n    width: 100%;\n    border-collapse: collapse;\n    margin: 0;\n  }\n\n  .gp-ncd-table tr {\n    border-bottom: 1px solid #edf1f6;\n  }\n\n  .gp-ncd-table tr:last-child {\n    border-bottom: none;\n  }\n\n  .gp-ncd-table td {\n    padding: 14px 20px;\n    font-size: 14px;\n    line-height: 1.5;\n    vertical-align: middle;\n  }\n\n  .gp-ncd-table td:first-child {\n    width: 38%;\n    background: #f7f9fc;\n    color: #4b5563;\n    font-weight: 600;\n    border-right: 1px solid #edf1f6;\n  }\n\n  .gp-ncd-table td:last-child {\n    color: #1f2937;\n    font-weight: 500;\n  }\n\n  \/* Highlight important investment metrics *\/\n  .gp-highlight-row td:last-child {\n    color: #19386d;\n    font-weight: 700;\n  }\n\n  .gp-metric-value {\n    display: inline-block;\n    padding: 5px 10px;\n    background: #eef3fa;\n    border-radius: 6px;\n    color: #19386d;\n    font-weight: 700;\n  }\n\n  .gp-green-value {\n    display: inline-block;\n    padding: 5px 10px;\n    background: #edf8f3;\n    border-radius: 6px;\n    color: #18794e;\n    font-weight: 700;\n  }\n\n  .gp-security-badge {\n    display: inline-block;\n    padding: 5px 10px;\n    background: #edf8f3;\n    color: #18794e;\n    border: 1px solid #ccebdd;\n    border-radius: 6px;\n    font-size: 12px;\n    font-weight: 700;\n  }\n\n  .gp-rating-badge {\n    display: inline-block;\n    padding: 5px 10px;\n    background: #f1f4f9;\n    color: #19386d;\n    border: 1px solid #d9e2ef;\n    border-radius: 6px;\n    font-size: 12px;\n    font-weight: 700;\n  }\n\n  .gp-date {\n    color: #19386d;\n    font-weight: 600;\n  }\n\n  .gp-payment-options {\n    display: flex;\n    flex-wrap: wrap;\n    gap: 7px;\n  }\n\n  .gp-payment-options span {\n    display: inline-block;\n    padding: 5px 9px;\n    background: #f2f5fa;\n    border: 1px solid #dce4ef;\n    border-radius: 5px;\n    color: #19386d;\n    font-size: 12px;\n    font-weight: 600;\n  }\n\n  .gp-ncd-note {\n    padding: 14px 20px;\n    background: #f8faff;\n    border-top: 1px solid #e4eaf3;\n    font-size: 12px;\n    line-height: 1.5;\n    color: #6b7280;\n  }\n\n  \/* Mobile *\/\n  @media (max-width: 650px) {\n    .gp-ncd-table-wrap {\n      margin: 24px 0;\n      border-radius: 10px;\n    }\n\n    .gp-ncd-table-header {\n      padding: 18px;\n    }\n\n    .gp-ncd-table-header h2 {\n      font-size: 19px;\n    }\n\n    .gp-ncd-table td {\n      padding: 12px 14px;\n      font-size: 13px;\n    }\n\n    .gp-ncd-table td:first-child {\n      width: 42%;\n    }\n\n    .gp-payment-options {\n      gap: 5px;\n    }\n\n    .gp-payment-options span {\n      font-size: 11px;\n      padding: 4px 7px;\n    }\n  }\n<\/style>\n\n\n<div class=\"gp-ncd-table-wrap\">\n\n  <!-- Header -->\n  <div class=\"gp-ncd-table-header\">\n    <h2><span class=\"ez-toc-section\" id=\"Muthoot_Fincorp_NCD_%E2%80%93_Key_Issue_Details\"><\/span>Muthoot Fincorp NCD \u2013 Key Issue Details<span class=\"ez-toc-section-end\"><\/span><\/h2>\n    <p>Tranche V \u2022 September 2026<\/p>\n  <\/div>\n\n  <!-- Table -->\n  <div class=\"pcrstb-wrap\"><table class=\"gp-ncd-table\">\n\n    <tbody>\n\n      <tr>\n        <td>Company<\/td>\n        <td><strong>Muthoot Fincorp Limited<\/strong><\/td>\n      <\/tr>\n\n      <tr>\n        <td>Issue Opens<\/td>\n        <td>\n          <span class=\"gp-date\">Tuesday, September 8, 2026<\/span>\n        <\/td>\n      <\/tr>\n\n      <tr>\n        <td>Issue Closes<\/td>\n        <td>\n          <span class=\"gp-date\">Tuesday, September 22, 2026<\/span>\n        <\/td>\n      <\/tr>\n\n      <tr class=\"gp-highlight-row\">\n        <td>Issue Size (Tranche V)<\/td>\n        <td>\n          <span class=\"gp-metric-value\">\u20b9700 Crore<\/span>\n        <\/td>\n      <\/tr>\n\n      <tr>\n        <td>Base Issue<\/td>\n        <td>\u20b9350 Crore<\/td>\n      <\/tr>\n\n      <tr>\n        <td>Green Shoe<\/td>\n        <td>\u20b9350 Crore<\/td>\n      <\/tr>\n\n      <tr>\n        <td>Face Value<\/td>\n        <td>\u20b91,000 per NCD<\/td>\n      <\/tr>\n\n      <tr class=\"gp-highlight-row\">\n        <td>Minimum Investment<\/td>\n        <td>\n          <span class=\"gp-metric-value\">\u20b910,000 (10 NCDs)<\/span>\n        <\/td>\n      <\/tr>\n\n      <tr>\n        <td>Security<\/td>\n        <td>\n          <span class=\"gp-security-badge\">Secured<\/span>\n        <\/td>\n      <\/tr>\n\n      <tr>\n        <td>Credit Rating<\/td>\n        <td>\n          <span class=\"gp-rating-badge\">\n            CRISIL AA\/Stable\n          <\/span>\n          &nbsp;\n          <span class=\"gp-rating-badge\">\n            Brickwork AA+\/Stable\n          <\/span>\n        <\/td>\n      <\/tr>\n\n      <tr class=\"gp-highlight-row\">\n        <td>Highest Coupon<\/td>\n        <td>\n          <span class=\"gp-green-value\">9.25% p.a.<\/span>\n        <\/td>\n      <\/tr>\n\n      <tr class=\"gp-highlight-row\">\n        <td>Effective Yield<\/td>\n        <td>\n          <span class=\"gp-green-value\">9.25% p.a.<\/span>\n        <\/td>\n      <\/tr>\n\n      <tr>\n        <td>Listing<\/td>\n        <td>BSE Limited<\/td>\n      <\/tr>\n\n      <tr>\n        <td>Registrar<\/td>\n        <td>Integrated Registry Management Services Pvt. Ltd.<\/td>\n      <\/tr>\n\n      <tr>\n        <td>Lead Manager<\/td>\n        <td>Nuvama Wealth Management Ltd.<\/td>\n      <\/tr>\n\n      <tr>\n        <td>Debenture Trustee<\/td>\n        <td>Vardhman Trusteeship Pvt. Ltd.<\/td>\n      <\/tr>\n\n      <tr>\n        <td>Interest Payment<\/td>\n        <td>\n          <div class=\"gp-payment-options\">\n            <span>Monthly<\/span>\n            <span>Annual<\/span>\n            <span>Cumulative<\/span>\n          <\/div>\n        <\/td>\n      <\/tr>\n\n    <\/tbody>\n  <\/table><\/div>\n\n  <div class=\"gp-ncd-note\">\n    <strong>Note:<\/strong> NCD investments are subject to issuer-specific\n    credit, interest-rate and liquidity risks. Investors should review the\n    offer document before investing.\n  <\/div>\n\n<\/div>\n\n\n\t\t<div class=\"ad-container\" style=\"font-family:'Satoshi','Segoe UI',sans-serif;max-width:1100px;background-color:#ffffff;border-radius:24px;padding:36px 48px;box-shadow:0 4px 24px rgba(0,0,0,0.12);display:flex;align-items:center;justify-content:space-between;border:1px solid #f6f5f2;box-sizing:border-box;margin:20px auto;gap:20px;\">\n\n\t\t\t<div class=\"ad-content\" style=\"flex:1.3;padding-right:20px;text-align:left;\">\n\t\t\t\t<span style=\"background-color:#fdf8e6;color:#A67C00;font-size:14px;font-weight:700;padding:6px 16px;border-radius:20px;display:inline-block;margin-bottom:20px;letter-spacing:0.2px;line-height:16.5px;\">\n\t\t\t\t\tFixed Returns \u2022 Trusted Platform\t\t\t\t<\/span>\n\t\t\t\t<div class=\"ad-headline-div\" style=\"color:#4a3e2e;font-size:28px;font-weight:700;margin:0 0 10px;line-height:30px;letter-spacing:-0.5px;font-family:'Satoshi','Segoe UI',sans-serif;\">\n\t\t\t\t\tApply for  <span style=\"color: #b08505\">Muthoot Fincorp NCD IPO<\/span>\t\t\t\t<\/div>\n\t\t\t\t<p class=\"paragpimob\" style=\"color:#8c8275;font-size:14px;line-height:18px;margin:0 0 25px;font-weight:500;letter-spacing:0.05px;\">\n\t\t\t\t\tApply for the NCD IPO with just \u20b910,000 &amp; explore fixed-return investment opportunities.\t\t\t\t<\/p>\n\t\t\t\t<a href=\"https:\/\/goldenpi.com\/bond-ipo\/GPID100936\/muthoot-fincorp-limited?sutm_source=blog&#038;sutm_medium=banner&#038;sutm_campaign=SEO_Organic&#038;sutm_id=1&#038;sutm_term=blog_SEO\" class=\"ad-btn\"\n\t\t\t\t\tstyle=\"display:inline-flex;align-items:center;justify-content:center;background:linear-gradient(to right,#f4d47c,#c0930a);color:#231f1a;font-weight:700;font-size:16px;text-decoration:none;padding:14px 44px;border-radius:30px;box-shadow:0 4px 12px rgba(192,147,10,0.15);transition:opacity 0.2s;\">\n\t\t\t\t\tApply Now &nbsp; <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" height=\"24px\" viewBox=\"0 -960 960 960\" width=\"24px\" fill=\"#1f1f1f\"><path d=\"m256-240-56-56 384-384H240v-80h480v480h-80v-344L256-240Z\"\/><\/svg>\t\t\t\t<\/a>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"ad-right-section\" style=\"display:flex;flex-direction:column;gap:16px;min-width:200px;flex:0.7;align-items:center;\">\n\t\t\t\t<div class=\"ad-card\" style=\"background-color:#faf9f6;border-radius:16px;padding:18px 20px;display:flex;align-items:center;gap:20px;border:1px solid #fcfbfa;box-sizing:border-box;width:260px;justify-content:flex-start;flex-shrink:0;\">\n\t\t\t\t\t<div style=\"display:flex;align-items:center;justify-content:center;flex-shrink:0;\">\n\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/d2tfvseypdp8pf.cloudfront.net\/assets\/img\/home-hero-section\/coin-icon.png\" alt=\"\" style=\"width:36px;height:36px;object-fit:contain;\" \/>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<div class=\"ad-card-text-wrapper\" style=\"text-align:left;\">\n\t\t\t\t\t\t<div class=\"ad-card-title\" style=\"font-size:22px;font-weight:700;color:#4a3e2e;line-height:1.2;\">10K<\/div>\n\t\t\t\t\t\t<div class=\"ad-card-sub\"   style=\"font-size:12px;color:#8c8275;margin-top:2px;font-weight:550;\">Min Investment<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"ad-card\" style=\"background-color:#faf9f6;border-radius:16px;padding:18px 20px;display:flex;align-items:center;gap:20px;border:1px solid #fcfbfa;box-sizing:border-box;width:260px;justify-content:flex-start;flex-shrink:0;\">\n\t\t\t\t\t<div style=\"display:flex;align-items:center;justify-content:center;flex-shrink:0;\">\n\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/d2tfvseypdp8pf.cloudfront.net\/assets\/img\/home-hero-section\/graph-icon.png\" alt=\"\" style=\"width:36px;height:36px;object-fit:contain;\" \/>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<div class=\"ad-card-text-wrapper\" style=\"text-align:left;\">\n\t\t\t\t\t\t<div class=\"ad-card-title\" style=\"font-size:22px;font-weight:700;color:#4a3e2e;line-height:1.2;\">9.25% p.a.<\/div>\n\t\t\t\t\t\t<div class=\"ad-card-sub\"   style=\"font-size:12px;color:#8c8275;margin-top:2px;font-weight:550;\">Coupon Rate<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t\t<div class=\"ad-mobile-btn-wrapper\">\n\t\t\t\t<a href=\"https:\/\/goldenpi.com\/bond-ipo\/GPID100936\/muthoot-fincorp-limited?sutm_source=blog&#038;sutm_medium=banner&#038;sutm_campaign=SEO_Organic&#038;sutm_id=1&#038;sutm_term=blog_SEO\" class=\"ad-btn\"\n\t\t\t\t\tstyle=\"display:inline-flex;align-items:center;justify-content:center;background:linear-gradient(to right,#f4d47c,#c0930a);color:#231f1a;font-weight:700;font-size:16px;text-decoration:none;padding:14px 44px;border-radius:30px;box-shadow:0 4px 12px rgba(192,147,10,0.15);transition:opacity 0.2s;\">\n\t\t\t\t\tApply Now &nbsp; <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" height=\"24px\" viewBox=\"0 -960 960 960\" width=\"24px\" fill=\"#1f1f1f\"><path d=\"m256-240-56-56 384-384H240v-80h480v480h-80v-344L256-240Z\"\/><\/svg>\t\t\t\t<\/a>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_Muthoot_Fincorp_NCD_IPO\"><\/span>What is the Muthoot Fincorp NCD IPO?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The <strong>Muthoot Fincorp Limited NCD IPO<\/strong> is a public issue of secured, redeemable, Non-Convertible Debentures (NCDs) of face value \u20b91,000 each. This public offering is <strong><a rel=\"nofollow\" href=\"https:\/\/www.sebi.gov.in\/filings\/debt-offer-document\/sep-2026\/muthoot-fincorp-limited-tranche-v-prospectus_104295.html\">Tranche V<\/a><\/strong> of the issue, operating under a total approved <strong>Shelf Prospectus limit of \u20b93,000.00 Crore<\/strong>.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Source<\/strong>: <a rel=\"nofollow\" href=\"https:\/\/www.sebi.gov.in\/filings\/debt-offer-document\/sep-2026\/muthoot-fincorp-limited-tranche-v-prospectus_104295.html\">SEBI Muthoot Fincorp Limited \u2013 Tranche V Prospectus<\/a><\/h4>\n\n\n\n<p>Muthoot Fincorp is raising these funds to strengthen its long-term liquidity, optimize borrowing costs, and expand its credit-sourcing book for onward lending. NCDs are ideal for investors seeking predictable, recurring income or wealth compounders who want a regular yield higher than traditional bank deposits.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Important Dates<\/h3>\n\n\n\n<p>The indicative timetable for the Tranche V NCD Issue is detailed below:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Event<\/strong><\/th><th><strong>Date<\/strong><\/th><\/tr><\/thead><tbody><tr><td><strong>Issue Opens<\/strong><\/td><td>Tuesday, September 8, 2026<\/td><\/tr><tr><td><strong>Issue Closes<\/strong><\/td><td>Tuesday, September 22, 2026<\/td><\/tr><tr><td><strong>Basis of Allotment<\/strong><\/td><td>Indicative post-closing, processed on a FCFS basis<\/td><\/tr><tr><td><strong>Refund Initiation \/ Unblocking<\/strong><\/td><td>Within 2-3 Working Days of Allotment<\/td><\/tr><tr><td><strong>Credit of NCDs to Demat Account<\/strong><\/td><td>Within 2-3 Working Days of Allotment<\/td><\/tr><tr><td><strong>Listing Date on BSE<\/strong><\/td><td>Indicative within 3-6 Working Days of Issue Closing<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<p><em>Note: The company reserves the right to close the issue early or extend the subscription window, subject to SEBI regulations.<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NCD_Issue_Details\"><\/span>NCD Issue Details<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Particular<\/strong><\/th><th><strong>Details<\/strong><\/th><\/tr><\/thead><tbody><tr><td><strong>Face Value<\/strong><\/td><td>\u20b91,000 per NCD&nbsp;<\/td><\/tr><tr><td><strong>Minimum Application<\/strong><\/td><td>\u20b910,000 (10 NCDs)<\/td><\/tr><tr><td><strong>Multiples<\/strong><\/td><td>\u20b91,000 (1 NCD) thereafter<\/td><\/tr><tr><td><strong>Base Issue Size<\/strong><\/td><td>\u20b9350.00 Crore<\/td><\/tr><tr><td><strong>Oversubscription Option<\/strong><\/td><td>\u20b9350.00 Crore<\/td><\/tr><tr><td><strong>Total Tranche V Size<\/strong><\/td><td>\u20b9700.00 Crore&nbsp;<\/td><\/tr><tr><td><strong>Shelf Limit<\/strong><\/td><td>\u20b93,000.00 Crore<\/td><\/tr><tr><td><strong>Tranche<\/strong><\/td><td>Tranche V<\/td><\/tr><tr><td><strong>Listing Exchange<\/strong><\/td><td>BSE Limited<\/td><\/tr><tr><td><strong>Security<\/strong><\/td><td>Secured&nbsp;<\/td><\/tr><tr><td><strong>Credit Rating<\/strong><\/td><td>CRISIL AA\/Stable and Brickwork AA+\/Stable<\/td><\/tr><tr><td><strong>Registrar<\/strong><\/td><td>Integrated Registry Management Services Pvt. Ltd.<\/td><\/tr><tr><td><strong>Trustee<\/strong><\/td><td>Vardhman Trusteeship Pvt. Ltd.<\/td><\/tr><tr><td><strong>Lead Manager<\/strong><\/td><td>Nuvama Wealth Management Ltd.&nbsp;<\/td><\/tr><tr><td><strong>ISIN<\/strong><\/td><td>Allocated individually per option at the time of allotment<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Interest_Rate_Series_Details\"><\/span>Interest Rate &amp; Series Details<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Muthoot Fincorp has structured <strong>12 distinct series<\/strong> across 24-, 36-, 60-, and 72-month tenors, giving investors options for <strong>Monthly<\/strong>, <strong>Annual<\/strong>, or <strong>Cumulative<\/strong> interest payouts:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Series<\/strong><\/th><th><strong>Tenure<\/strong><\/th><th><strong>Frequency<\/strong><\/th><th><strong>Coupon Rate (% p.a.<\/strong><\/th><th><strong>Effective Yield (% p.a.<\/strong><\/th><th><strong>Maturity Amount (per NCD)<\/strong><\/th><\/tr><\/thead><tbody><tr><td><strong>Series 1<\/strong><\/td><td>24 Months<\/td><td>Monthly<\/td><td>8.56%&nbsp;<\/td><td>8.90%&nbsp;<\/td><td>\u20b91,000.00&nbsp;<\/td><\/tr><tr><td><strong>Series 2<\/strong><\/td><td>36 Months<\/td><td>Monthly<\/td><td>8.75%&nbsp;<\/td><td>9.10%&nbsp;<\/td><td>\u20b91,000.00&nbsp;<\/td><\/tr><tr><td><strong>Series 3<\/strong><\/td><td>60 Months<\/td><td>Monthly<\/td><td>8.84%&nbsp;<\/td><td>9.20%&nbsp;<\/td><td>\u20b91,000.00&nbsp;<\/td><\/tr><tr><td><strong>Series 4<\/strong><\/td><td>72 Months<\/td><td>Monthly<\/td><td>8.88%&nbsp;<\/td><td>9.24%&nbsp;<\/td><td>\u20b91,000.00&nbsp;<\/td><\/tr><tr><td><strong>Series 5<\/strong><\/td><td>24 Months<\/td><td>Annual<\/td><td>8.90%&nbsp;<\/td><td>8.89%&nbsp;<\/td><td>\u20b91,000.00&nbsp;<\/td><\/tr><tr><td><strong>Series 6<\/strong><\/td><td>36 Months<\/td><td>Annual<\/td><td>9.10%&nbsp;<\/td><td>9.09%&nbsp;<\/td><td>\u20b91,000.00&nbsp;<\/td><\/tr><tr><td><strong>Series 7<\/strong><\/td><td>60 Months<\/td><td>Annual<\/td><td>9.20%&nbsp;<\/td><td>9.19%&nbsp;<\/td><td>\u20b91,000.00&nbsp;<\/td><\/tr><tr><td><strong>Series 8<\/strong><\/td><td>72 Months<\/td><td>Annual<\/td><td><strong>9.25%<\/strong>&nbsp;<\/td><td><strong>9.24%<\/strong>&nbsp;<\/td><td>\u20b91,000.00&nbsp;<\/td><\/tr><tr><td><strong>Series 9<\/strong><\/td><td>24 Months<\/td><td>Cumulative<\/td><td>NA&nbsp;<\/td><td>8.90%&nbsp;<\/td><td>\u20b91,186.20&nbsp;<\/td><\/tr><tr><td><strong>Series 10<\/strong><\/td><td>36 Months<\/td><td>Cumulative<\/td><td>NA&nbsp;<\/td><td>9.10%&nbsp;<\/td><td>\u20b91,298.91&nbsp;<\/td><\/tr><tr><td><strong>Series 11<\/strong><\/td><td>60 Months<\/td><td>Cumulative<\/td><td>NA&nbsp;<\/td><td>9.20%&nbsp;<\/td><td>\u20b91,553.17&nbsp;<\/td><\/tr><tr><td><strong>Series 12<\/strong><\/td><td>72 Months<\/td><td>Cumulative<\/td><td>NA&nbsp;<\/td><td><strong>9.25%<\/strong>&nbsp;<\/td><td><strong>\u20b91,701.14<\/strong>&nbsp;<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\">Key Insights:<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Highest Coupon<\/strong>: <strong>9.25% p.a.<\/strong> via <strong>Series 8<\/strong> (72 Months, Annual Payout).<\/li>\n\n\n\n<li><strong>Best Effective Yield<\/strong>: <strong>9.25% p.a.<\/strong> via <strong>Series 12<\/strong> (72 Months, Cumulative Payout), which yields \u20b91,701.14 on maturity per \u20b91,000 invested.<\/li>\n\n\n\n<li><strong>Best option for monthly income<\/strong>: <strong>Series 4<\/strong> offers an effective yield of <strong>9.24% p.a.<\/strong> (8.88% coupon paid monthly) over 72 months, while <strong>Series 3<\/strong> offers <strong>9.20% p.a.<\/strong> effective yield (8.84% coupon paid monthly) over 60 months.<\/li>\n\n\n\n<li><strong>Best option for long-term compounding<\/strong>: <strong>Series 12<\/strong> converts a \u20b910,000 minimum investment to \u20b917,011.40 over a 6-year period (72 months).<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Investor_Category_Allocation\"><\/span>Investor Category Allocation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>To ensure structured fundraising, the Tranche V Issue is allocated across four investor categories:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Category<\/strong><\/th><th><strong>Allocation %<\/strong><\/th><th><strong>Allocation Amount (Max Limit)<\/strong><\/th><\/tr><\/thead><tbody><tr><td><strong>Institutional Investors<\/strong><\/td><td>10.00%&nbsp;<\/td><td>\u20b970.00 Crore<\/td><\/tr><tr><td><strong>Non-Institutional Investors<\/strong><\/td><td>20.00%&nbsp;<\/td><td>\u20b9140.00 Crore<\/td><\/tr><tr><td><strong>HNIs (High Net Worth Individuals)<\/strong><\/td><td>50.00%&nbsp;<\/td><td>\u20b9350.00 Crore<\/td><\/tr><tr><td><strong>Retail Individual Investors<\/strong><\/td><td>20.00%&nbsp;<\/td><td>\u20b9140.00 Crore<\/td><\/tr><tr><td><strong>Total<\/strong><\/td><td><strong>100.00%<\/strong>&nbsp;<\/td><td><strong>\u20b9700.00 Crore<\/strong><\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<p><em>Allotment will be processed on a <\/em><strong><em>first-come, first-served <\/em><\/strong><em>(FCFS) basis within each category according to the upload date on the stock exchange platform.<\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Purpose of the Issue<\/h3>\n\n\n\n<p>The net proceeds of this Issue will be strictly utilized as per the company&#8217;s Objects of the Issue :<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Onward Lending &amp; Debt Servicing<\/strong> (At least 75% of proceeds): Sourced towards onward lending, financing, and for the repayment\/prepayment of interest and principal of existing borrowings of the company.<\/li>\n\n\n\n<li><strong>General Corporate Purposes<\/strong> (Up to 25% of proceeds): Sourced towards routine administrative, operational, and general corporate purposes.<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Muthoot_Fincorp_Overview\"><\/span><strong>Muthoot Fincorp Overview<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Founded<\/strong>: Incorporated in 1997 .<\/li>\n\n\n\n<li><strong>Headquarters<\/strong>: Muthoot Centre, TC No 27\/3022, Punnen Road, Thiruvananthapuram, Kerala, 695001 .<\/li>\n\n\n\n<li><strong>Promoters<\/strong>: Promoted by <strong>Thomas John Muthoot<\/strong>, <strong>Thomas George Muthoot<\/strong>, and <strong>Thomas Muthoot.<\/strong><\/li>\n\n\n\n<li><strong>Business Model<\/strong>: A non-deposit-taking systemically important NBFC primarily offering personal and business loans secured by gold ornaments and jewelry. These gold loan products meet short-term liquidity needs of individuals and small businesses.<\/li>\n\n\n\n<li><strong>Branches &amp; Touchpoints<\/strong>: As of June 30, 2026, Muthoot Fincorp operates a highly massive physical footprint consisting of <strong>3,845 branches<\/strong> and <strong>326 processing centers<\/strong> across 25 states and union territories.<\/li>\n\n\n\n<li><strong>Assets Under Management (AUM)<\/strong>: As of March 31, 2026, its consolidated AUM stands at an exceptional <strong>\u20b973,44,471.93 lakhs<\/strong> (\u20b973,444.72 Crore), and Standalone AUM stands at <strong>\u20b956,18,510.03 lakhs<\/strong> (\u20b956,185.10 Crore).<\/li>\n\n\n\n<li><strong>Other Verticals<\/strong>: In addition to gold loans, the company provides foreign exchange and domestic money transfer services as a sub-agent. It has also diversified into joint venture real estate developments and owns wind power generation projects in Tamil Nadu.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Financial_Performance_Consolidated\"><\/span>Financial Performance (Consolidated)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The consolidated financial performance of Muthoot Fincorp Limited reflects massive scale and an extremely strong growth trajectory, particularly in total income and net profit:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Key Financial Indicators<\/strong><\/th><th><strong>FY24 (Audited)<\/strong><\/th><th><strong>FY25 (Audited)<\/strong><\/th><th><strong>FY26 (Audited)<\/strong><\/th><\/tr><\/thead><tbody><tr><td><strong>Total Income<\/strong><\/td><td>\u20b96,554.31 Cr&nbsp;<\/td><td>\u20b98,511.57 Cr&nbsp;<\/td><td>\u20b911,227.80 Cr&nbsp;<\/td><\/tr><tr><td><strong>Profit After Tax (PAT)<\/strong><\/td><td>\u20b91,047.98 Cr&nbsp;<\/td><td>\u20b9607.99 Cr&nbsp;<\/td><td>\u20b91,847.62 Cr&nbsp;<\/td><\/tr><tr><td><strong>Tangible Net Worth<\/strong><\/td><td>\u20b95,811.02 Cr&nbsp;<\/td><td>\u20b96,362.75 Cr&nbsp;<\/td><td>\u20b98,218.32 Cr&nbsp;<\/td><\/tr><tr><td><strong>Total Assets<\/strong><\/td><td>\u20b938,703.57 Cr&nbsp;<\/td><td>\u20b945,456.09 Cr&nbsp;<\/td><td>\u20b967,668.68 Cr&nbsp;<\/td><\/tr><tr><td><strong>Consolidated AUM<\/strong><\/td><td>\u20b953,000 Crore<\/td><td>\u20b960,000 Crore<\/td><td>\u20b973,444.72 Crore&nbsp;<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Financial Performance Takeaways:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Remarkable Revenue Expansion<\/strong>: Total income increased from \u20b98,511.57 Cr in FY25 to \u20b911,227.80 Cr in FY26, showing an exceptional <strong>32% YoY <\/strong>growth.<\/li>\n\n\n\n<li><strong>Exponential PAT Recovery<\/strong>: Profit after tax rebounded spectacularly from \u20b9607.99 Cr in FY25 to \u20b91,847.62 Cr in FY26, representing an astronomical <strong>204% <\/strong>rise.<\/li>\n\n\n\n<li><strong>Capital Consolidation<\/strong>: Consolidated net worth grew 29% in FY26 to touch \u20b98,218.32 Cr, providing a massive cushion against credit shocks.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Key Financial Ratios (Consolidated)<\/h3>\n\n\n\n<p><em>Note: The ratios below are mathematically calculated from the company&#8217;s audited consolidated financials in the Tranche V prospectus:<\/em><\/p>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Financial Ratio<\/strong><\/th><th><strong>FY24<\/strong><\/th><th><strong>FY25<\/strong><\/th><th><strong>FY26<\/strong><\/th><\/tr><\/thead><tbody><tr><td><strong>Return on Equity (ROE)<\/strong><\/td><td>18.03%<\/td><td>9.56%<\/td><td><strong>22.48%<\/strong><\/td><\/tr><tr><td><strong>Return on Assets (ROA)<\/strong><\/td><td>2.71%<\/td><td>1.34%<\/td><td><strong>2.73%<\/strong><\/td><\/tr><tr><td><strong>Equity Gearing (Asset-to-Net Worth)<\/strong><\/td><td>6.66x<\/td><td>7.14x<\/td><td><strong>8.23x<\/strong><\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\">Key Ratios Takeaways:<\/h4>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Industry-Leading ROE<\/strong>: Return on Equity rocketed to <strong>22.48% in FY26<\/strong>, demonstrating highly efficient utilization of shareholder equity to generate profits.<\/li>\n\n\n\n<li><strong>Robust Asset Returns<\/strong>: Return on Assets recovered to a healthy <strong>2.73% in FY26<\/strong>, highlighting the high margin spreads characteristic of retail gold loans.<\/li>\n\n\n\n<li><strong>Optimized Gearing<\/strong>: With assets at 8.23x of Net Worth, the company effectively utilizes debt capital to leverage its nationwide gold loan distribution network.<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">Credit Rating Analysis<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Agency<\/strong><\/th><th><strong>Rating<\/strong><\/th><th><strong>Outlook<\/strong><\/th><th><strong>Safety &amp; Risk Degree<\/strong><\/th><\/tr><\/thead><tbody><tr><td><strong>CRISIL Ratings Limited<\/strong><\/td><td><strong>AA\/Stable<\/strong>&nbsp;<\/td><td>Stable&nbsp;<\/td><td>High degree of safety, very low credit risk&nbsp;<\/td><\/tr><tr><td><strong>Brickwork Ratings India Pvt. Ltd.<\/strong><\/td><td><strong>AA+\/Stable<\/strong>&nbsp;<\/td><td>Stable&nbsp;<\/td><td>High degree of safety, very low credit risk&nbsp;<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<h4 class=\"wp-block-heading\">What the Rating Means:<\/h4>\n\n\n\n<p>A rating of &#8220;AA\/Stable&#8221; or &#8220;AA+\/Stable&#8221; implies a <strong>high degree of safety<\/strong> regarding the timely payment of interest and principal obligations. Instruments with these ratings carry <strong>very low credit risk<\/strong>, and the &#8216;Stable&#8217; outlook indicates that the financial health and business model are expected to remain solid in the medium term.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Security Cover<\/h3>\n\n\n\n<p>The Tranche V NCDs are <strong>secured<\/strong> debt instruments backed by a first charge over the company&#8217;s asset book and loan receivables. Under the terms of the issue, Muthoot Fincorp will maintain a <strong>security cover of at least 1.00x (100%)<\/strong> of the outstanding NCD principal and accrued interest obligations throughout the tenure of the NCDs. Axis\/Vardhman Trustees will monitor compliance to ensure investor assets remain secured by gold receivables.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Peer Comparison<\/h3>\n\n\n\n<p>Compared to other gold loan NBFC peers, Muthoot Fincorp stands out as an incredibly efficient player:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Yield Advantage<\/strong>: Offering coupon rates up to <strong>9.25% p.a.<\/strong> Muthoot Fincorp comfortably outpaces AAA-rated competitors (like Muthoot Finance or Manappuram Finance), which typically offer yields in the range of 8.20% to 8.60% for similar tenors.<\/li>\n\n\n\n<li><strong>Secured Collateral<\/strong>: Backed by highly liquid, pure gold-collateral loan books, Muthoot Fincorp&#8217;s asset risks are much lower than microfinance or unsecured retail lenders.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Pros (Strengths):<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>High Predictable Returns<\/strong>: Coupon rates up to <strong>9.25% p.a.<\/strong> comfortably beat bank FDs (which currently hover around 7.00% to 7.50%).<\/li>\n\n\n\n<li><strong>Secured Asset Class<\/strong>: Backed by short-term, liquid gold loans, meaning defaults are easily recoverable via gold auctions.<\/li>\n\n\n\n<li><strong>Phenomenal Performance<\/strong>: A massive <strong>204% PAT growth<\/strong> in FY26 showcases superb profitability and financial strength.<\/li>\n\n\n\n<li><strong>Massive Brand Heritage<\/strong>: Part of the decades-old Muthoot Pappachan Group, ensuring trust and nationwide recognition.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Cons (Risks):<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>No Premature Exit with Issuer<\/strong>: No put or call options are available with the company; exit before maturity relies strictly on secondary BSE listing liquidity.<\/li>\n\n\n\n<li><strong>Gold Price Volatility<\/strong>: Significant drops in global gold prices could impact collateral values and affect loan recovery margins.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NCD_vs_Fixed_Deposit\"><\/span>NCD vs. Fixed Deposit<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><div class=\"pcrstb-wrap\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Feature<\/strong><\/th><th><strong>Muthoot Fincorp NCD<\/strong><\/th><th><strong>Bank Fixed Deposit<\/strong><\/th><\/tr><\/thead><tbody><tr><td><strong>Returns<\/strong><\/td><td><strong>Up to 9.25% p.a.<\/strong>&nbsp;<\/td><td>Standard 6.50% &#8211; 7.50% p.a.<\/td><\/tr><tr><td><strong>Liquidity<\/strong><\/td><td>Sellable on BSE post-listing&nbsp;<\/td><td>Premature withdrawal with 1% penalty<\/td><\/tr><tr><td><strong>Risk Profile<\/strong><\/td><td>Moderately Low (Secured by Gold Assets)&nbsp;<\/td><td>Negligible (DICGC insured up to \u20b95 Lakh)<\/td><\/tr><tr><td><strong>Taxation<\/strong><\/td><td>Taxable under slab; 10% TDS applicable&nbsp;<\/td><td>Taxable under slab; TDS applicable<\/td><\/tr><tr><td><strong>Tradability<\/strong><\/td><td>Fully Tradable on BSE&nbsp;<\/td><td>Non-tradable<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Taxation on NCD Interest<\/h3>\n\n\n\n<p>Interest earned on NCDs is fully taxable under the head &#8220;Income from Other Sources&#8221; based on your income tax slab.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>TDS<\/strong>: A TDS of <strong>10%<\/strong> is deducted at source under Section 193 of the Income Tax Act.<\/li>\n\n\n\n<li><strong>TDS Exemption<\/strong>: To receive interest without TDS, eligible resident individuals must submit <strong>Form 15G<\/strong> (or <strong>Form 15H<\/strong> for senior citizens) to the Registrar, Integrated Registry Management Services Pvt. Ltd., before the record date.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Apply_for_NCD_IPO\"><\/span>How to Apply for NCD IPO <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Only ASBA applications are permitted for subscribing to the NCDs:<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>Log in<\/strong> to your Net Banking portal or Demat platform (such as GoldenPi, IndiaBonds, or exchange direct apps).<\/li>\n\n\n\n<li><strong>Navigate<\/strong> to the &#8220;IPO \/ NCD \/ Debt&#8221; section.<\/li>\n\n\n\n<li><strong>Select<\/strong> &#8220;Muthoot Fincorp Limited NCD IPO Tranche V&#8221; and choose your preferred Series (1 to 12).<\/li>\n\n\n\n<li><strong>Enter Application Details<\/strong> (Minimum \u20b910,000 for 10 NCDs).<\/li>\n\n\n\n<li><strong>Authenticate<\/strong> the UPI mandate or ASBA payment block.<\/li>\n\n\n\n<li>Upon successful allotment, blocked funds will be debited, and the NCDs will be credited directly to your Demat account within 2-3 working days of allotment.<\/li>\n<\/ol>\n\n\n\n<style>\n  .gp-investment-verdict {\n    max-width: 900px;\n    margin: 32px auto;\n    background: #ffffff;\n    border: 1px solid #dce5f2;\n    border-radius: 14px;\n    box-shadow: 0 6px 24px rgba(25, 56, 109, 0.08);\n    overflow: hidden;\n    font-family: -apple-system, BlinkMacSystemFont, \"Segoe UI\", Roboto, Arial, sans-serif;\n  }\n\n  \/* Header *\/\n  .gp-verdict-header {\n    background: #19386d;\n    padding: 22px 26px;\n    color: #ffffff;\n  }\n\n  .gp-verdict-header h2 {\n    margin: 0;\n    font-size: 22px;\n    line-height: 1.3;\n    color: #ffffff;\n    font-weight: 700;\n  }\n\n  .gp-verdict-header p {\n    margin: 6px 0 0;\n    font-size: 13px;\n    color: #dce7f7;\n  }\n\n  \/* Rating *\/\n  .gp-verdict-rating {\n    display: flex;\n    align-items: center;\n    justify-content: space-between;\n    gap: 20px;\n    padding: 20px 26px;\n    background: #f7f9fc;\n    border-bottom: 1px solid #e5eaf2;\n  }\n\n  .gp-rating-label {\n    font-size: 13px;\n    color: #6b7280;\n    font-weight: 600;\n    margin-bottom: 4px;\n  }\n\n  .gp-rating-stars {\n    color: #19386d;\n    font-size: 22px;\n    letter-spacing: 2px;\n    line-height: 1;\n  }\n\n  .gp-rating-score {\n    font-size: 16px;\n    font-weight: 700;\n    color: #19386d;\n    margin-left: 8px;\n  }\n\n  \/* Two columns *\/\n  .gp-verdict-columns {\n    display: grid;\n    grid-template-columns: 1fr 1fr;\n    gap: 16px;\n    padding: 22px 26px 26px;\n  }\n\n  .gp-verdict-box {\n    border-radius: 10px;\n    padding: 18px;\n  }\n\n  .gp-suitable {\n    background: #f1faf6;\n    border: 1px solid #ccebdd;\n  }\n\n  .gp-avoid {\n    background: #fff7f6;\n    border: 1px solid #f3d3cf;\n  }\n\n  .gp-verdict-box h3 {\n    margin: 0 0 14px;\n    font-size: 16px;\n    font-weight: 700;\n  }\n\n  .gp-suitable h3 {\n    color: #18794e;\n  }\n\n  .gp-avoid h3 {\n    color: #b42318;\n  }\n\n  .gp-verdict-list {\n    list-style: none;\n    padding: 0;\n    margin: 0;\n  }\n\n  .gp-verdict-list li {\n    position: relative;\n    padding-left: 25px;\n    margin-bottom: 12px;\n    font-size: 13px;\n    line-height: 1.55;\n    color: #374151;\n  }\n\n  .gp-verdict-list li:last-child {\n    margin-bottom: 0;\n  }\n\n  .gp-suitable .gp-verdict-list li::before {\n    content: \"\u2713\";\n    position: absolute;\n    left: 0;\n    top: 0;\n    color: #18794e;\n    font-weight: 800;\n  }\n\n  .gp-avoid .gp-verdict-list li::before {\n    content: \"\u00d7\";\n    position: absolute;\n    left: 0;\n    top: 0;\n    color: #b42318;\n    font-weight: 800;\n    font-size: 17px;\n  }\n\n  .gp-verdict-list strong {\n    color: #1f2937;\n  }\n\n  \/* Mobile *\/\n  @media (max-width: 650px) {\n    .gp-investment-verdict {\n      margin: 24px 0;\n      border-radius: 12px;\n    }\n\n    .gp-verdict-header {\n      padding: 20px;\n    }\n\n    .gp-verdict-header h2 {\n      font-size: 20px;\n    }\n\n    .gp-verdict-rating {\n      padding: 18px 20px;\n    }\n\n    .gp-verdict-columns {\n      grid-template-columns: 1fr;\n      padding: 18px 20px 20px;\n    }\n\n    .gp-verdict-box {\n      padding: 16px;\n    }\n  }\n<\/style>\n\n<div class=\"gp-investment-verdict\">\n\n  <!-- Header -->\n  <div class=\"gp-verdict-header\">\n    <h2><span class=\"ez-toc-section\" id=\"My_Investment_Verdict\"><\/span>My Investment Verdict*<span class=\"ez-toc-section-end\"><\/span><\/h2>\n    <p>My assessment based on risk, returns, liquidity and investor suitability.<\/p>\n  <\/div>\n\n  <!-- Overall Rating -->\n  <div class=\"gp-verdict-rating\">\n    <div>\n      <div class=\"gp-rating-label\">Based on my personal assisment Overall Rating *<\/div>\n      <div>\n        <span class=\"gp-rating-stars\">\u2605\u2605\u2605\u2605\u2606<\/span>\n        <span class=\"gp-rating-score\">4.0\/5<\/span>\n      <\/div>\n    <\/div>\n  <\/div>\n\n  <!-- Suitable \/ Avoid -->\n  <div class=\"gp-verdict-columns\">\n\n    <!-- Suitable For -->\n    <div class=\"gp-verdict-box gp-suitable\">\n      <h3>Suitable For<\/h3>\n\n      <ul class=\"gp-verdict-list\">\n\n        <li>\n          <strong>Retirees and income seekers<\/strong>\n          looking for steady monthly income options with yields up to 9.24% p.a.\n        <\/li>\n\n        <li>\n          <strong>Fixed-income investors<\/strong>\n          seeking to lock in yields of up to 9.25% p.a. in a high-safety environment.\n        <\/li>\n\n        <li>\n          <strong>Conservative investors<\/strong>\n          looking to diversify their portfolio beyond traditional bank fixed deposits.\n        <\/li>\n\n        <li>\n          <strong>Investors looking to hold until maturity<\/strong>\n          to maximize compound interest via cumulative options.\n        <\/li>\n\n      <\/ul>\n    <\/div>\n\n    <!-- Avoid If -->\n    <div class=\"gp-verdict-box gp-avoid\">\n      <h3>Avoid If<\/h3>\n\n      <ul class=\"gp-verdict-list\">\n\n        <li>\n          <strong>You need high immediate liquidity<\/strong>\n          \u2014 listing is assured, but trading volumes in the secondary market can be modest.\n        <\/li>\n\n        <li>\n          <strong>You are looking for equity-like capital appreciation.<\/strong>\n        <\/li>\n\n        <li>\n          <strong>You prefer 100% government-backed, risk-free savings instruments.<\/strong>\n        <\/li>\n\n      <\/ul>\n    <\/div>\n\n  <\/div>\n\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"My_Verdict\"><\/span>My Verdict<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The <strong>Muthoot Fincorp Limited Tranche V NCD IPO<\/strong> is a <strong>highly compelling, rock-solid investment<\/strong> for retail and HNI fixed-income portfolios. Offering interest rates of up to <strong>9.25% p.a.<\/strong>\u00a0 and rated <strong>CRISIL <\/strong>AA\/Stable, it sits at an optimal sweet spot of risk and reward.<\/p>\n\n\n\n<p>Backed by a nationwide gold-sourcing footprint of 3,845 branches, solid profitability (PAT of \u20b91,847.62 Cr), and physical gold collateral, the safety margins here are incredibly high. For retail investors looking to maximize regular income, locking in the <strong>9.24% effective monthly payout (Series 4)<\/strong>\u00a0 or compounding wealth via the <strong>9.25% cumulative yield (Series 12)<\/strong>\u00a0 is an excellent choice. We recommend allocating up to 15-20% of your fixed-income portfolio to this issue.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Recent NCD IPO:<\/h3>\n\n\n<ul class=\"wp-block-latest-posts__list is-grid columns-3 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-tranche-5-september-2026\/\" aria-label=\"Muthoot Fincorp Limited NCD IPO September 2026: Should You Invest? Interest Rates, Review, Dates &amp; Credit Rating\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/07193541\/Muthoot-Fincorp-Limited-NCD-IPO-1-1024x576.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"Muthoot Fincorp Limited NCD IPO (1)\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/07193541\/Muthoot-Fincorp-Limited-NCD-IPO-1-1024x576.jpg 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/07193541\/Muthoot-Fincorp-Limited-NCD-IPO-1-300x169.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/07193541\/Muthoot-Fincorp-Limited-NCD-IPO-1-768x432.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/07193541\/Muthoot-Fincorp-Limited-NCD-IPO-1-1536x864.jpg 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/07193541\/Muthoot-Fincorp-Limited-NCD-IPO-1.jpg 1600w\" 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-tranche-5-september-2026\/\">Muthoot Fincorp Limited NCD IPO September 2026: Should You Invest? Interest Rates, Review, Dates &amp; Credit Rating<\/a><\/li>\n<li><div class=\"wp-block-latest-posts__featured-image aligncenter\"><a href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/indel-money-limited-ncd-ipo-issue-details-returns-and-risks\/\" aria-label=\"Indel Money Limited NCD IPO: Issue Details, Returns, and Risks\"><img decoding=\"async\" width=\"1024\" height=\"486\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/12170012\/Blog-banner-1024x486.png\" class=\"attachment-large size-large wp-post-image\" alt=\"Indel Money NCD IPO\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/12170012\/Blog-banner-1024x486.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/12170012\/Blog-banner-300x142.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/12170012\/Blog-banner-768x364.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/12170012\/Blog-banner-1536x728.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/12170012\/Blog-banner-2048x971.png 2048w\" 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\/indel-money-limited-ncd-ipo-issue-details-returns-and-risks\/\">Indel Money Limited 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\/paisalo-digital-limited-ncd-ipo-issue-details-returns-and-risks\/\" aria-label=\"Paisalo Digital Limited NCD IPO: Issue Details, Returns, and Risks\"><img decoding=\"async\" width=\"1024\" height=\"486\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/07175152\/Blog-banner%402x-8-1024x486.png\" class=\"attachment-large size-large wp-post-image\" alt=\"Paisalo Digital NCD IPO\" style=\"\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/07175152\/Blog-banner%402x-8-1024x486.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/07175152\/Blog-banner%402x-8-300x142.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/07175152\/Blog-banner%402x-8-768x364.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/07175152\/Blog-banner%402x-8-1536x728.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/08\/07175152\/Blog-banner%402x-8-2048x971.png 2048w\" 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\/paisalo-digital-limited-ncd-ipo-issue-details-returns-and-risks\/\">Paisalo Digital Limited NCD IPO: Issue Details, Returns, and Risks<\/a><\/li>\n<\/ul>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Muthoot_Fincorp_NCD_IPO_Frequently_Asked_Questions\"><\/span>Muthoot Fincorp NCD IPO Frequently Asked Questions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1788776159412\"><strong class=\"schema-faq-question\"><strong>Q1: What is the minimum investment for the Muthoot Fincorp NCD IPO?<\/strong><\/strong> <p class=\"schema-faq-answer\">A: The minimum application amount is <strong>\u20b910,000<\/strong> (10 NCDs of face value \u20b91,000 each) and in multiples of \u20b91,000 (1 NCD) thereafter.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1788776270566\"><strong class=\"schema-faq-question\"><strong>Q2: Is this NCD secured?<\/strong><\/strong> <p class=\"schema-faq-answer\">A: Yes, these NCDs are fully secured by a first charge over the company&#8217;s book debts, gold loans, and physical receivables.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1788776286038\"><strong class=\"schema-faq-question\"><strong>Q3: What is the highest coupon rate offered?<\/strong><\/strong> <p class=\"schema-faq-answer\">A: The highest coupon rate offered is <strong>9.25% p.a.<\/strong> for Series 8 (72 Months, Annual payout). The highest effective yield is also <strong>9.25% p.a.<\/strong> for Series 12 (Cumulative).<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1788776300501\"><strong class=\"schema-faq-question\"><strong>Q4: Can I sell these NCDs before maturity?<\/strong><\/strong> <p class=\"schema-faq-answer\">A: Yes, the NCDs will be listed on <strong>BSE <\/strong>Limited. You can trade them in the secondary market, though trading volumes may be low.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1788776324967\"><strong class=\"schema-faq-question\"><strong>Q5: Who is the Registrar and Debenture Trustee for the issue?<\/strong><\/strong> <p class=\"schema-faq-answer\">A: The Registrar is <strong>Integrated Registry Management Services Pvt. <\/strong>Ltd., and the Debenture Trustee is <strong>Vardhman Trusteeship Pvt. Ltd.<\/strong>\u00a0<\/p> <\/div> <\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The <strong>Muthoot Fincorp Limited NCD IPO<\/strong> provides a lucrative gateway for investors to earn steady, market-beating returns. Given its high-safety &#8220;AA\/Stable&#8221; rating, liquid gold-secured collateral, and phenomenal FY26 earnings rebound (+204% PAT), this issue stands out as a highly reliable option. Always align your series selection (monthly vs annual vs cumulative) with your specific financial goals and income needs.<\/p>\n\n\n<div class=\"gpi-custom-widget-box\" style=\"border-left-color: #0066cc; background-color: #f0f7ff;\">\n<div class=\"gpi-custom-widget-title\" style=\"color: #0066cc;\">Ready to Invest?<\/div>\n<div class=\"gpi-custom-widget-content\">\n<p>Visit <a href=\"https:\/\/goldenpi.com\/\">GoldenPi<\/a> to explore current bond options. Compare yields, ratings, and tenures in one place and invest online with as little as \u20b930,000.<\/p>\n<\/div>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Disclaimer\"><\/span>Disclaimer<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Fixed returns do not constitute guaranteed or assured returns. Investments in corporate debt securities and municipal debt securities\/securitized debt instruments are subject to credit risks, market risks, and default risks, including delay and\/or default in payment. Read all the offer-related documents carefully. This blog\/article should not be construed as financial advice or as an offer or recommendation to buy or sell any security or any products\/services of\/on GoldenPi or any product\/services of its third-party client(s). For a detailed calculation of YTM, visit our website.&nbsp;<a href=\"https:\/\/delivery.goldenpi.com\/XPRBSN?id=162365=ch0GCFVXBVBUH1QDUlZXUlgBVgNSUwJVWgQGDFJQAVsEUwRfBldSBFVUAglRBFJSAA0ZBgxfQFBbERxBFSNTV10FU1cTDBgFDg5OAFIKVVFQBlZTVwQBBgFSAg0aC0BMQRIMFkwBUwoIFVdDHBwCCw1QAAsTWBpSVwgebDYxdmt\/Xl9dHxMF&amp;fl=WRVCSRBfGUkETltfVwNLAxVbCQwNWhpYVkpFGwMOBRcEWQMNUEoHSQJaV1BQAQQHTAZXA1IcAAMOBBxWB1IMFQUEVQxXXAEFBVQEUkpTVlMCUFEHU1JVAwhUAFECAQZaVFEADVAAVQBXVFRUUw==\" target=\"_blank\" rel=\"noreferrer noopener\">T&amp;C\u2019s Apply<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\ud83d\udcdd Quick Summary: The Muthoot Fincorp Limited NCD IPO opens on Tuesday, September 8, 2026, and closes on Tuesday, September 22, 2026&hellip;<\/p>\n","protected":false},"author":16,"featured_media":16060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[113],"tags":[],"class_list":["post-16046","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ncd-ipo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Muthoot Fincorp Limited NCD IPO September 2026: Interest Rates, Dates &amp; Credit Rating<\/title>\n<meta name=\"description\" content=\"Muthoot Fincorp NCD September 2026: Check issue dates, interest rates, tenure, credit rating, minimum investment and key details before investing. \ue201\" \/>\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-fincorp-limited-ncd-ipo-tranche-5-september-2026\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Muthoot Fincorp Limited NCD IPO September 2026: Interest Rates, Dates &amp; Credit Rating\" \/>\n<meta property=\"og:description\" content=\"Muthoot Fincorp NCD September 2026: Check issue dates, interest rates, tenure, credit rating, minimum investment and key details before investing. \ue201\" \/>\n<meta property=\"og:url\" content=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo-tranche-5-september-2026\/\" \/>\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=\"2026-09-07T11:58:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-09-07T14:05:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2026\/09\/07193541\/Muthoot-Fincorp-Limited-NCD-IPO-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kunal Arora | CA\" \/>\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=\"Kunal Arora | CA\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"12 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/goldenpi.com\\\/blog\\\/investment-guide\\\/ncd-ipo\\\/muthoot-fincorp-limited-ncd-ipo-tranche-5-september-2026\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/goldenpi.com\\\/blog\\\/investment-guide\\\/ncd-ipo\\\/muthoot-fincorp-limited-ncd-ipo-tranche-5-september-2026\\\/\"},\"author\":{\"name\":\"Kunal Arora | CA\",\"@id\":\"https:\\\/\\\/goldenpi.com\\\/blog\\\/#\\\/schema\\\/person\\\/d3fccd8baf9a3fda41c1c5356272ce8d\"},\"headline\":\"Muthoot Fincorp Limited NCD IPO September 2026: Should You Invest? 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