{"id":9499,"date":"2025-10-31T03:14:10","date_gmt":"2025-10-31T03:14:10","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=9499"},"modified":"2026-04-15T05:15:22","modified_gmt":"2026-04-15T05:15:22","slug":"muthoot-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/","title":{"rendered":"MUTHOOT FINCORP LTD NCD IPO- April 2025, 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-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/#High_Yield_AA-Stable_Rated_Minimum_Investment_10k_Only\" >High Yield\u00a0|\u00a0AA-\/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-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/#Muthoot_Fincorp_Ltd_NCD_IPO_Coupon_rates_and_effective_yield_for_each_of_the_series\" >Muthoot Fincorp Ltd 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-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/#Allocation_Ratio\" >Allocation Ratio<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/#Investment_Process_for_Muthoot_Fincorp_Ltd_NCD_IPO\" >Investment Process for Muthoot Fincorp Ltd 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-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/#Financial_Overview\" >Financial Overview<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/#Snapshot_stating_the_Revenue_Expenses_EBIT_Net_Worth_and_P_AT\" >Snapshot stating the Revenue, Expenses, EBIT, Net Worth and P AT<\/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-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/#Cash_flow_for_last_5_years\" >Cash flow for last 5 years<\/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-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/#Ratio_Analysis\" >Ratio Analysis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/#Issue_analysis\" >Issue analysis<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/#Pros\" >Pros\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/#Cons\" >Cons\u00a0<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/#Liquidity_Position\" >Liquidity Position<\/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-ltd-ncd-ipo-april-2025-should-you-invest-2\/#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-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/#About_MFL\" >About MFL<\/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-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/#Business_Verticals\" >Business Verticals<\/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-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/#Strengths\" >Strengths<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/#Weakness\" >Weakness<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/#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_AA-Stable_Rated_Minimum_Investment_10k_Only\"><\/span><strong>High Yield\u00a0|\u00a0AA-\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-ltd-ncd-ipo-july-2025-should-you-invest\/\"><span style=\"font-weight: 400;\">Muthoot Fincorp Ltd<\/span><\/a> <span style=\"font-weight: 400;\">is issuing Non-Convertible Debentures. These NCDs are AA-\/Stable by CRISIL. The NCDs are being issued in twelve series: yield ranges from 9.38% to 10.11% p.a. and different tenures of 24 months, 36 months, 60 months, and 72 months. The NCDs are secured and redeemable in nature. <\/span><\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-9500 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25103922\/Screenshot-2025-04-25-155759.png\" alt=\"\" width=\"662\" height=\"790\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25103922\/Screenshot-2025-04-25-155759.png 662w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25103922\/Screenshot-2025-04-25-155759-251x300.png 251w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25103922\/Screenshot-2025-04-25-155759-585x698.png 585w\" sizes=\"(max-width: 662px) 100vw, 662px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Muthoot_Fincorp_Ltd_NCD_IPO_Coupon_rates_and_effective_yield_for_each_of_the_series\"><\/span><b>Muthoot Fincorp Ltd 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<h2><img decoding=\"async\" class=\"size-large wp-image-9501 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25103945\/Picture2-4-1024x228.png\" alt=\"\" width=\"1024\" height=\"228\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25103945\/Picture2-4-1024x228.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25103945\/Picture2-4-300x67.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25103945\/Picture2-4-768x171.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25103945\/Picture2-4-1536x341.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25103945\/Picture2-4-2048x455.png 2048w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25103945\/Picture2-4-1170x260.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25103945\/Picture2-4-1920x427.png 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25103945\/Picture2-4-585x130.png 585w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/h2>\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. 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 Fincorp Ltd NCD-IPO.\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-large wp-image-9502 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104006\/Picture21-1024x671.png\" alt=\"\" width=\"1024\" height=\"671\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104006\/Picture21-1024x671.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104006\/Picture21-300x197.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104006\/Picture21-768x503.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104006\/Picture21-1536x1006.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104006\/Picture21-1170x767.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104006\/Picture21-585x383.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104006\/Picture21.png 1653w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Investment_Process_for_Muthoot_Fincorp_Ltd_NCD_IPO\"><\/span><b>Investment Process for Muthoot Fincorp Ltd NCD IPO<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">You can invest in IPOs via GoldenPi in these easy steps.<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-9201 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/17112823\/Investment-flow.png\" alt=\"\" width=\"576\" height=\"218\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/17112823\/Investment-flow.png 576w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2024\/12\/17112823\/Investment-flow-300x114.png 300w\" sizes=\"(max-width: 576px) 100vw, 576px\" \/><\/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_EBIT_Net_Worth_and_P_AT\"><\/span><b>Snapshot stating the Revenue, Expenses, EBIT, Net Worth and P AT<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p style=\"text-align: right;\"><span style=\"font-weight: 400;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0(Amount in Rs. Cr)<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-large wp-image-9503 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104050\/pat-1024x829.png\" alt=\"\" width=\"1024\" height=\"829\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104050\/pat-1024x829.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104050\/pat-300x243.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104050\/pat-768x622.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104050\/pat-1536x1244.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104050\/pat-2048x1658.png 2048w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104050\/pat-1170x947.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104050\/pat-1920x1554.png 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104050\/pat-585x474.png 585w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Cash_flow_for_last_5_years\"><\/span><b>Cash flow for last 5 years<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p style=\"text-align: right;\"><span style=\"font-weight: 400;\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><span style=\"font-weight: 400;\">(Amount in Rs. Cr)<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-9504 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104124\/Screenshot-2024-08-28-122804.png\" alt=\"\" width=\"812\" height=\"441\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104124\/Screenshot-2024-08-28-122804.png 812w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104124\/Screenshot-2024-08-28-122804-300x163.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104124\/Screenshot-2024-08-28-122804-768x417.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104124\/Screenshot-2024-08-28-122804-585x318.png 585w\" sizes=\"(max-width: 812px) 100vw, 812px\" \/><\/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<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\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-large wp-image-9505 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104139\/Table%402x-1170x886-1-1024x775.png\" alt=\"\" width=\"1024\" height=\"775\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104139\/Table%402x-1170x886-1-1024x775.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104139\/Table%402x-1170x886-1-300x227.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104139\/Table%402x-1170x886-1-768x582.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104139\/Table%402x-1170x886-1-585x443.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/04\/25104139\/Table%402x-1170x886-1.png 1170w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/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\"><b>Strong Credit Rating:<\/b><span style=\"font-weight: 400;\"> Rated <\/span><b>CRISIL AA-\/Stable<\/b><span style=\"font-weight: 400;\">, indicating <\/span><b>high degree of safety<\/b><span style=\"font-weight: 400;\"> and <\/span><b>low credit risk<\/b><span style=\"font-weight: 400;\">\u200b.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Secured NCDs:<\/b><span style=\"font-weight: 400;\"> Backed by a <\/span><b>subservient charge on loan receivables and current assets<\/b><span style=\"font-weight: 400;\">, offering security to <a href=\"https:\/\/goldenpi.com\/blog\/essentials\/what-are-debentures-explained\/\">debenture<\/a> holders.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Reasonable Financial Metrics:<\/b><span style=\"font-weight: 400;\"> FY24 total income of \u20b94,294 Cr; PAT of \u20b9268 Cr; Net Worth of \u20b92,726 Cr.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Steady AUM Growth:<\/b><span style=\"font-weight: 400;\"> Assets under management (AUM) stood at over \u20b922,000 Cr, showing consistent growth trajectory.<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Cons\"><\/span><b>Cons\u00a0<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Asset Quality Pressure:<\/b><span style=\"font-weight: 400;\"> Any adverse movement in collateral value (especially gold) could impact collections.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Interest Rate Risk:<\/b><span style=\"font-weight: 400;\"> High interest rate environment could affect borrowing costs and NIM (Net Interest Margin).<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Moderate Capitalisation:<\/b><span style=\"font-weight: 400;\"> While comfortable, the capital adequacy ratio (CAR) needs constant monitoring as business scales.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Liquidity_Position\"><\/span><b>Liquidity Position<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Healthy Liquidity Buffer<\/b><span style=\"font-weight: 400;\">: MFL retains daily cash buffers across branches (up to 0.5% of gold loan book or \u20b92 lakh) to support disbursements\u200b.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Comfortable Liability Structure<\/b><span style=\"font-weight: 400;\">: No breach of covenants reported; strong treasury management via centralized fund transfer mechanism ensures fund availability.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Recent Upgrades in Credit Rating<\/b><span style=\"font-weight: 400;\">: CRISIL upgraded MFL\u2019s long-term rating to <\/span><b>CRISIL AA-\/Stable<\/b><span style=\"font-weight: 400;\"> and short-term rating to <\/span><b>CRISIL A1+<\/b><span style=\"font-weight: 400;\">, enhancing its access to capital markets\u200b<\/span><\/li>\n<\/ul>\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>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"About_MFL\"><\/span><b>About MFL<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Founded in 1997, Muthoot Fincorp Ltd.(MFL) is a non-deposit taking, one of the leading NBFCs in the country. The NBFC primarily deals into lending against gold jewelry.\u00a0 It is the flagship company of the Muthoot Pappachan Group also popularly known as the Muthoot Blue Group, which has diverse business interests such as hospitality, real estate, and power generation.\u00a0<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Business_Verticals\"><\/span><b>Business Verticals<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\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\"><b>Strong Market Position in Gold Loans<\/b><span style=\"font-weight: 400;\">: One of the largest <a href=\"https:\/\/goldenpi.com\/blog\/sovereign-gold-bond\/sovereign-gold-bond-vs-gold-etf\/\">gold loan<\/a> NBFCs in India, with a well-established brand presence, especially in South India.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Healthy Asset Quality<\/b><span style=\"font-weight: 400;\">: GNPA (Stage 3 assets) improved to <\/span><b>1.40% as of Dec 31, 2024<\/b><span style=\"font-weight: 400;\">, from <\/span><b>2.88% in FY22<\/b><span style=\"font-weight: 400;\">, reflecting strong underwriting and collection efficiency\u200b.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Robust Capital Adequacy<\/b><span style=\"font-weight: 400;\">: CRAR stood at <\/span><b>18.20% as of Dec 31, 2024<\/b><span style=\"font-weight: 400;\">, well above the RBI-mandated 15%, indicating a strong capital buffer.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Diversified Financial Services Group<\/b><span style=\"font-weight: 400;\">: Through subsidiaries like Muthoot Microfin and Muthoot Housing Finance, the company taps into microfinance and affordable housing.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Widespread Distribution Network<\/b><span style=\"font-weight: 400;\">: Large physical presence across India, especially in underserved markets, giving it a significant competitive edge.<\/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\"><b>Asset-Liability Mismatch<\/b><span style=\"font-weight: 400;\">: The company\u2019s average asset tenor is 4\u201312 months, while liabilities are longer-term, exposing it to rollover risks in case of funding crunches\u200b.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Brand Dependency &amp; Legal Risks<\/b><span style=\"font-weight: 400;\">: Trademark registration for \u201cMuthoot Fincorp\u201d and \u201cMuthoot Pappachan\u201d is still pending; any disassociation from the group could impact operations\u200b.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Moderate Exposure Concentration<\/b><span style=\"font-weight: 400;\">: Top 20 borrower exposure stood at <\/span><b>1.66% of total<\/b><span style=\"font-weight: 400;\">, and the top 4 NPAs accounted for <\/span><b>\u20b9934 crore<\/b><span style=\"font-weight: 400;\">, hinting at some concentration risk\u200b.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Reliance on Short-Term Borrowing<\/b><span style=\"font-weight: 400;\">: High dependency on working capital loans and CPs may pressure liquidity in stressed times.<\/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><b>Source-<\/b><span style=\"font-weight: 400;\"> Tranche V Prospectus April 23, 2025<\/span><\/p>\n<p><b>Disclaimer-<\/b><span style=\"font-weight: 400;\"> The information is published as on date 4\/25\/2025 based on information available on Tranche V Prospectus April 23, 2025. The information may be subject to change in case of change in terms of prospectus or any other reason as the case maybe. Contents which are exclusively for educational information\/knowledge sharing on capital market concepts and has no influence the investment\/sale decisions of any investors<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>High Yield\u00a0|\u00a0AA-\/Stable Rated\u00a0|\u00a0Minimum Investment: 10k Only \u00a0 Muthoot Fincorp Ltd is issuing Non-Convertible Debentures. These NCDs are AA-\/Stable by CRISIL. The NCDs&hellip;<\/p>\n","protected":false},"author":4,"featured_media":12079,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[113,152],"tags":[],"class_list":["post-9499","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 FINCORP LTD NCD IPO- April 2025, Should You Invest? - GoldenPi | Blogs<\/title>\n<meta name=\"description\" content=\"MUTHOOT FINCORP LTD NCD IPO- April 2025, 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-fincorp-ltd-ncd-ipo-april-2025-should-you-invest-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MUTHOOT FINCORP LTD NCD IPO- April 2025, Should You Invest? 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