{"id":8491,"date":"2024-08-23T11:43:21","date_gmt":"2024-08-23T11:43:21","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=8491"},"modified":"2024-09-26T05:23:24","modified_gmt":"2024-09-26T05:23:24","slug":"muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/","title":{"rendered":"MUTHOOT MERCANTILE LIMITED NCD IPO \u2013 August 2024, should you invest?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/#High_Yield_BBBStable_Rated_Minimum_Investment_10k_Only\" >High Yield\u00a0|\u00a0BBB\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/#Muthoot_Mercantile_Limited_NCD_IPO_Coupon_rates_and_effective_yield_for_each_of_the_series\" >Muthoot Mercantile Limited NCD IPO: Coupon rates and effective yield for each of the series\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/#Allocation_Ratio\" >Allocation Ratio<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/#Investment_Process_for_Muthoot_Mercantile_Limited_NCD_IPO\" >Investment Process for Muthoot Mercantile Limited NCD IPO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/#Financial_Overview\" >Financial Overview<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/#Snapshot_stating_the_Revenue_Expenses_and_PAT_In_crores\" >Snapshot stating the Revenue, Expenses, and PAT (In crores)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/#Cash_flow_for_last_few_years_In_crores\" >Cash flow for last few years (In crores)<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/#Ratio_Analysis\" >Ratio Analysis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/#Issue_analysis\" >Issue analysis<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/#Pros\" >Pros\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/#Cons\" >Cons\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/#Liquidity\" >Liquidity<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/#To_get_better_returns_than_Bank_FDs_invest_in_NCD-IPOs_online\" >To get better returns than Bank FDs, invest in NCD-IPOs online.\u00a0<\/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-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/#About_Muthoot_Mercantile_Limited\" >About Muthoot Mercantile Limited\u00a0<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/#Strengths\" >Strengths<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/#Weakness\" >Weakness<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/#Invest_in_Bond_IPO_online_in_just_5_minutes\" >Invest in Bond IPO online in just 5 minutes<\/a><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"High_Yield_BBBStable_Rated_Minimum_Investment_10k_Only\"><\/span><b>High Yield\u00a0|\u00a0BBB\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Muthoot Mercantile Limited is issuing the Non-Convertible Debentures. These NCDs are BBB\/Stable rated by India Ratings and Research. The NCDs are being issued in nine series: coupon ranges from 10.70% to 11.50% p.a. and different tenures of 400 days, 20 months, 36 months, 60 months and 73 months. The NCDs are senior secured and redeemable in nature.\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-8492 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113459\/Screenshot-2024-08-23-125815.png\" alt=\"\" width=\"672\" height=\"802\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113459\/Screenshot-2024-08-23-125815.png 672w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113459\/Screenshot-2024-08-23-125815-251x300.png 251w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113459\/Screenshot-2024-08-23-125815-585x698.png 585w\" sizes=\"(max-width: 672px) 100vw, 672px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Muthoot_Mercantile_Limited_NCD_IPO_Coupon_rates_and_effective_yield_for_each_of_the_series\"><\/span><b>Muthoot Mercantile Limited NCD IPO: <\/b><b>Coupon rates and effective yield for each of the series\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"size-large wp-image-8493 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113527\/Picture1-1024x248.png\" alt=\"\" width=\"1024\" height=\"248\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113527\/Picture1-1024x248.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113527\/Picture1-300x73.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113527\/Picture1-768x186.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113527\/Picture1-1536x372.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113527\/Picture1-2048x495.png 2048w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113527\/Picture1-1170x283.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113527\/Picture1-1920x464.png 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113527\/Picture1-585x142.png 585w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Allocation_Ratio\"><\/span><b>Allocation Ratio<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The allocation ratio is prepared based on norms laid down by SEBI. Before announcing the allocation ratio, the same has to be approved by SEBI.\u00a0 Once the IPO subscription closes, applications will be divided into different categories. The category-wise allocation ratio is always decided and declared during the launch of the particular IPO. Considering the Allocation Ratio, units will be assigned to applicants. Refer to the chart to know the application ratio for Muthoot Mercantile Limited NCD-IPO.\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-large wp-image-8494 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113551\/Picture2-1024x790.png\" alt=\"\" width=\"1024\" height=\"790\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113551\/Picture2-1024x790.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113551\/Picture2-300x232.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113551\/Picture2-768x593.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113551\/Picture2-1536x1185.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113551\/Picture2-1170x903.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113551\/Picture2-585x451.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113551\/Picture2.png 1652w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Investment_Process_for_Muthoot_Mercantile_Limited_NCD_IPO\"><\/span><b>Investment Process for <\/b><b>Muthoot Mercantile Limited<\/b><b> NCD IPO<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">You can invest in IPOs via GoldenPi in 3 easy steps.<\/span><\/p>\n<p><b>If the investment amount is\u00a0 less than &amp; up to 10 lakhs,<\/b><span style=\"font-weight: 400;\"> retail investors can apply for an IPO online.<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-7997 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/05\/29091702\/12-768x384-1.jpg\" alt=\"\" width=\"768\" height=\"384\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/05\/29091702\/12-768x384-1.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/05\/29091702\/12-768x384-1-300x150.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/05\/29091702\/12-768x384-1-585x293.jpg 585w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/p>\n<p><b>If the investment amount is more than 10 Lakhs.\u00a0<\/b><\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-7998 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/05\/29091719\/11-768x384-1.jpg\" alt=\"\" width=\"768\" height=\"384\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/05\/29091719\/11-768x384-1.jpg 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/05\/29091719\/11-768x384-1-300x150.jpg 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/05\/29091719\/11-768x384-1-585x293.jpg 585w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Financial_Overview\"><\/span><b>Financial Overview<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h4><span class=\"ez-toc-section\" id=\"Snapshot_stating_the_Revenue_Expenses_and_PAT_In_crores\"><\/span><b>Snapshot stating the Revenue, Expenses, and PAT (In crores)<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><img decoding=\"async\" class=\"size-large wp-image-8495 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113700\/Picture3-1024x615.png\" alt=\"\" width=\"1024\" height=\"615\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113700\/Picture3-1024x615.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113700\/Picture3-300x180.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113700\/Picture3-768x461.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113700\/Picture3-1536x922.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113700\/Picture3-1170x702.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113700\/Picture3-1920x1153.png 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113700\/Picture3-585x351.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113700\/Picture3.png 1972w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Cash_flow_for_last_few_years_In_crores\"><\/span><b>Cash flow for last few years (In crores)<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><img decoding=\"async\" class=\"size-full wp-image-8496 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113726\/Screenshot-2024-08-23-164716.png\" alt=\"\" width=\"855\" height=\"485\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113726\/Screenshot-2024-08-23-164716.png 855w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113726\/Screenshot-2024-08-23-164716-300x170.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113726\/Screenshot-2024-08-23-164716-768x436.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23113726\/Screenshot-2024-08-23-164716-585x332.png 585w\" sizes=\"(max-width: 855px) 100vw, 855px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Cash flow refers to the movement of cash in and out of the business at a specific point in time. It represents the net balance of the cash movement.<\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">*Cash flow from operating activities reflects the amount a company generates through its product of services.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">**Cash flow from investing activities reflects cash generated and spent relating to investing activities, like purchase of assets, sales of securities etc.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b><span style=\"font-weight: 400;\">***Cash flow from financing activities gives an insight into the financial stability of a company to its investors. It reflects <\/span><span style=\"font-weight: 400;\">the net flows of cash that are used to fund the company.<\/span><\/b><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Ratio_Analysis\"><\/span><b>Ratio Analysis<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"size-full wp-image-8498 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23114222\/Table-Format-2.png\" alt=\"\" width=\"900\" height=\"427\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23114222\/Table-Format-2.png 900w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23114222\/Table-Format-2-300x142.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23114222\/Table-Format-2-768x364.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/23114222\/Table-Format-2-585x278.png 585w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Issue_analysis\"><\/span><b>Issue analysis<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h4><span class=\"ez-toc-section\" id=\"Pros\"><\/span><b>Pros\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The NCD is BBB rated security with a stable outlook.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The coupon rate is between 10.7% to 11.5% which is much higher than FDs.<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Cons\"><\/span><b>Cons\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Significant dilution in tangible net worth due to significant losses<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Deterioration in the asset quality<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Liquidity\"><\/span><b>Liquidity<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">The company&#8217;s asset-liability position shows a positive surplus for the next year. Additionally, the cash reserves, bank balances, and fixed deposits totaling INR 320 million, along with unused bank lines of INR 174 million as of the end of June 2024, offer extra support to the liquidity profile, especially in relation to the debt repayment of INR 319 million due between July and September 2024.<\/span><\/p>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"To_get_better_returns_than_Bank_FDs_invest_in_NCD-IPOs_online\"><\/span><a href=\"https:\/\/goldenpi.com\/bond-better-return-fds\"><b>To get better returns than Bank FDs, invest in NCD-IPOs online.\u00a0<\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><img decoding=\"async\" class=\"aligncenter  wp-image-8692\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/08\/26052306\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest.gif\" alt=\"muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\" width=\"546\" height=\"546\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"About_Muthoot_Mercantile_Limited\"><\/span><b>About <\/b><b>Muthoot Mercantile Limited\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Muthoot Mercantile Limited (MML) was established as a Public Limited Company in 1997 and obtained registration as a Non-Banking Finance Company from the Reserve Bank of India in 2002. As a prominent NBFC, Muthoot Mercantile Limited serves as the flagship entity of the Muthoot Ninan Group, founded by the late M. Ninan Muthoot in 1939. The company specializes in providing loans secured against gold.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Strengths\"><\/span><b>Strengths<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Significant growth and expansion of franchise, enhancing geographic diversification: MML achieved notable growth in its gold loan business during FY23-FY24, with a 30% year-on-year increase in the loan book to INR 7 billion in FY24, driven by branch expansions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reasonable profitability supporting growth: MML\u2019s net interest margin increased to 12.15%, according to the audited financials for FY24 (FY23: 10.73% ; FY22: 12.14%), because of the improvement in yield.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Stable asset quality: The gold loan segment exhibited resilience during COVID-19 disruptions, maintaining stable asset quality with a gross NPA of 0.3% in FY24 (up from 0.27% in FY23).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Adequate capitalization: MML, wholly owned by the chairman and family, possessed a tangible net worth of INR 1,631 million as of March 31, 2024.<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Weakness\"><\/span><b>Weakness<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Business scalability and profitability under monitoring: Increased competitive pressures in south India from various sources, including Nidhi companies, moneylenders, microfinance institutions, and banks offering agriculture gold loans, have resulted in slower AUM growth per branch and pricing pressure.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Concentrated funding profile: As of March 2024, MML&#8217;s funding mix comprised NCDs (26%), subordinated debentures (38.6%), and loans from public sector banks (35.4%), indicating concentration. The company&#8217;s leverage stood at 3.5x by end-March 2024.<\/span><\/li>\n<\/ul>\n<h1 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Invest_in_Bond_IPO_online_in_just_5_minutes\"><\/span><a href=\"https:\/\/goldenpi.com\/bond-ipo-online\"><b>Invest in Bond IPO online in just 5 minutes<\/b><\/a><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><span style=\"font-weight: 400;\"><strong>Source-<\/strong> Prospectus August 07, 2024<\/span><\/p>\n<p><strong>Disclaimer- <\/strong><span style=\"font-weight: 400;\">The information is published as on date 23\/08\/2024 based on information available on Prospectus August 07, 2024. The information may be subject to change in case of change in terms of prospectus or any other reason as the case maybe. Contents which are exclusively for educational information\/knowledge sharing on capital market concepts and has no influence the investment\/sale decisions of any investors<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>High Yield\u00a0|\u00a0BBB\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only \u00a0 Muthoot Mercantile Limited is issuing the Non-Convertible Debentures. These NCDs are BBB\/Stable rated by India&hellip;<\/p>\n","protected":false},"author":4,"featured_media":8497,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[113,152],"tags":[],"class_list":["post-8491","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ncd-ipo","category-muthoot-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>MUTHOOT MERCANTILE LIMITED NCD IPO \u2013 August 2024, should you invest? - GoldenPi | Blogs<\/title>\n<meta name=\"description\" content=\"MUTHOOT MERCANTILE LIMITED NCD IPO \u2013 August 2024, should you invest?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-mercantile-limited-ncd-ipo-august-2024-should-you-invest\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MUTHOOT MERCANTILE LIMITED NCD IPO \u2013 August 2024, should you invest? 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