{"id":9585,"date":"2025-07-03T08:28:42","date_gmt":"2025-07-03T08:28:42","guid":{"rendered":"https:\/\/goldenpi.com\/blog\/?p=9585"},"modified":"2026-04-14T12:16:20","modified_gmt":"2026-04-14T12:16:20","slug":"muthoot-fincorp-ltd-ncd-ipo-july-2025-should-you-invest","status":"publish","type":"post","link":"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-ltd-ncd-ipo-july-2025-should-you-invest\/","title":{"rendered":"MUTHOOT FINCORP LTD NCD IPO- July 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-july-2025-should-you-invest\/#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-july-2025-should-you-invest\/#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-july-2025-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-fincorp-ltd-ncd-ipo-july-2025-should-you-invest\/#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-july-2025-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-fincorp-ltd-ncd-ipo-july-2025-should-you-invest\/#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-july-2025-should-you-invest\/#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-july-2025-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-fincorp-ltd-ncd-ipo-july-2025-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-fincorp-ltd-ncd-ipo-july-2025-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-fincorp-ltd-ncd-ipo-july-2025-should-you-invest\/#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-july-2025-should-you-invest\/#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-july-2025-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-fincorp-ltd-ncd-ipo-july-2025-should-you-invest\/#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-july-2025-should-you-invest\/#FY25\" >FY25<\/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-july-2025-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-17\" href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-ltd-ncd-ipo-july-2025-should-you-invest\/#Weaknesses\" >Weaknesses<\/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-july-2025-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_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><span style=\"font-weight: 400;\">Muthoot Fincorp Ltd<\/span> <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: <a href=\"https:\/\/goldenpi.com\/blog\/essentials\/bond-market\/what-is-a-yield\/\">yield<\/a> ranges from 9.20% to 9.81% p.a. and different tenures of 24 months, 36 months, 60 months, and 72 months. The NCDs are secured and redeemable in nature.\u00a0<\/span><\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-9586 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082255\/Screenshot-2025-07-03-134449.png\" alt=\"\" width=\"672\" height=\"795\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082255\/Screenshot-2025-07-03-134449.png 672w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082255\/Screenshot-2025-07-03-134449-254x300.png 254w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082255\/Screenshot-2025-07-03-134449-585x692.png 585w\" sizes=\"(max-width: 672px) 100vw, 672px\" \/><\/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<p><img decoding=\"async\" class=\"size-large wp-image-9587 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082313\/kmo-1024x258.png\" alt=\"\" width=\"1024\" height=\"258\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082313\/kmo-1024x258.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082313\/kmo-300x76.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082313\/kmo-768x194.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082313\/kmo-1536x388.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082313\/kmo-2048x517.png 2048w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082313\/kmo-1170x295.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082313\/kmo-1920x485.png 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082313\/kmo-585x148.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. 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-9588 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082332\/Picture2-1024x611.png\" alt=\"\" width=\"1024\" height=\"611\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082332\/Picture2-1024x611.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082332\/Picture2-300x179.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082332\/Picture2-768x459.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082332\/Picture2-1536x917.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082332\/Picture2-1170x699.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082332\/Picture2-585x349.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082332\/Picture2.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-9589 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082426\/pat-1024x829.png\" alt=\"\" width=\"1024\" height=\"829\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082426\/pat-1024x829.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082426\/pat-300x243.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082426\/pat-768x622.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082426\/pat-1536x1244.png 1536w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082426\/pat-2048x1658.png 2048w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082426\/pat-1170x947.png 1170w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082426\/pat-1920x1554.png 1920w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082426\/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-9590 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082453\/Screenshot-2024-08-28-122804.png\" alt=\"\" width=\"812\" height=\"441\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082453\/Screenshot-2024-08-28-122804.png 812w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082453\/Screenshot-2024-08-28-122804-300x163.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082453\/Screenshot-2024-08-28-122804-768x417.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082453\/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<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-9591 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082512\/Table%402x-1170x886-1-1024x775.png\" alt=\"\" width=\"1024\" height=\"775\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082512\/Table%402x-1170x886-1-1024x775.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082512\/Table%402x-1170x886-1-300x227.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082512\/Table%402x-1170x886-1-768x582.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082512\/Table%402x-1170x886-1-585x443.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082512\/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>Diversified NBFC:<\/b><span style=\"font-weight: 400;\"> Operates across <\/span><b>gold loans, MSME financing<\/b><span style=\"font-weight: 400;\">, and <\/span><b>two-wheeler loans<\/b><span style=\"font-weight: 400;\">, reducing reliance on a single segment.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Robust Parentage:<\/b><span style=\"font-weight: 400;\"> Part of the <\/span><b>Muthoot Pappachan Group<\/b><span style=\"font-weight: 400;\">, a well-established financial services conglomerate.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Extensive Reach:<\/b><span style=\"font-weight: 400;\"> Over <\/span><b>3,600 branches<\/b><span style=\"font-weight: 400;\"> across India ensures strong customer base and rural presence.<\/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\/the-role-of-a-debenture-trustee-in-bond-issuances\/\">debenture<\/a> holders.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/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>Exposure to Gold Loan Volatility:<\/b><span style=\"font-weight: 400;\"> A large portion of business still depends on gold loan pricing and demand cycles.<\/span><\/li>\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><\/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><\/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>Strong buffer<\/b><span style=\"font-weight: 400;\">: Standalone liquidity \u20b95,106\u202fcr as of Feb\u202f28,\u202f2025 (~5\u20138% of balance sheet); liquidity cover 1.5\u00d7 over next two months without roll\u2011overs.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Access to funding<\/b><span style=\"font-weight: 400;\">: \u20b920,700\u202fcr bank limits and \u20b92,000\u202fcr commercial paper line; since Oct\u202f2024, raised ~\u20b916,047\u202fcr at competitive rates\u202f.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/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><span style=\"font-weight: 400;\">\u00a0<\/span><\/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, <a href=\"https:\/\/goldenpi.com\/blog\/investment-guide\/ncd-ipo\/muthoot-fincorp-limited-ncd-ipo\/\">Muthoot Fincorp Ltd.(MFL)<\/a> 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=\"FY25\"><\/span><b>FY25<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><img decoding=\"async\" class=\"size-large wp-image-9592 aligncenter\" src=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082551\/Screenshot-2025-07-03-131926-1024x253.png\" alt=\"\" width=\"1024\" height=\"253\" srcset=\"https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082551\/Screenshot-2025-07-03-131926-1024x253.png 1024w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082551\/Screenshot-2025-07-03-131926-300x74.png 300w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082551\/Screenshot-2025-07-03-131926-768x190.png 768w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082551\/Screenshot-2025-07-03-131926-585x144.png 585w, https:\/\/d2zny4996dl67j.cloudfront.net\/blogs\/wp-content\/uploads\/2025\/07\/03082551\/Screenshot-2025-07-03-131926.png 1053w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/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\"><b>Strong market leadership &amp; AUM<\/b><span style=\"font-weight: 400;\">: Gold-loan AUM stood at \u20b928,509\u202fcr (55\u202f% of group total), including \u20b96,424\u202fcr co\u2011lending as of March\u202f31,\u202f2025; non-gold AUM spans \u20b912,356\u202fcr MFI, \u20b93,058\u202fcr vehicle, \u20b92,557\u202fcr housing.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Robust asset quality<\/b><span style=\"font-weight: 400;\">: Steady gold loan performance and controlled GNPA (~3\u20134% across segments), demonstrating resilience.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Solid capitalisation<\/b><span style=\"font-weight: 400;\">: Net worth grew from \u20b96,570\u202fcr in FY24 to \u20b97,432\u202fcr in FY25, with consolidated gearing at 5.2\u00d7. Standalone, gearing ~2.7\u00d7 and consolidated net worth ~\u20b927,916\u202fcr as of Dec\u202f31,\u202f2024.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Profitable operations<\/b><span style=\"font-weight: 400;\">: Strong interest margins with return on managed assets (RoMA) of ~5.1% in FY24, ~4.8% in 9M FY25; credit costs contained.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Parent &amp; group support<\/b><span style=\"font-weight: 400;\">: Backed by experienced promoters; microfinance IPO (\u20b9760\u202fcr new equity + \u20b9200\u202fcr offer for sale) boosted capital in Dec\u202f2023.<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"Weaknesses\"><\/span><b>Weaknesses<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Geographic concentration<\/b><span style=\"font-weight: 400;\">: Gold-loan book heavily regional; potential underwriting variability across regions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Regulatory uncertainty<\/b><span style=\"font-weight: 400;\">: RBI\u2019s draft directions on gold loans (April\u202f9,\u202f2025) may affect practices and margins.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Elevated delinquencies in non-gold segment<\/b><span style=\"font-weight: 400;\">: Microfinance GNPA rose from 2.3% (Mar\u202f2024) to 4.8% (Mar\u202f2025); 90+ days overdue at 5.7%.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Profit pressure in MFI<\/b><span style=\"font-weight: 400;\">: Muthoot Microfin reported net loss \u20b9222\u202fcr in FY25, RoMA negative at \u20131.6% vs +3.7% in FY24; credit cost surged to 5.6%, operating cost ~5.5%.<\/span><\/li>\n<\/ul>\n<h1><\/h1>\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>&nbsp;<\/p>\n<p><b>Source-<\/b><span style=\"font-weight: 400;\"> Tranche VI Prospectus June 27, 2025<\/span><\/p>\n<p><b>Disclaimer-<\/b><span style=\"font-weight: 400;\"> The information is published as on date 7\/03\/2025 based on information available on Tranche VI Prospectus June 27, 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":12075,"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-9585","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- July 2025, Should You Invest? - GoldenPi | Blogs<\/title>\n<meta name=\"description\" content=\"MUTHOOT FINCORP LTD NCD IPO- July 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-july-2025-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 FINCORP LTD NCD IPO- July 2025, Should You Invest? 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