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Muthoot Fincorp Ltd. NCD (Muthoot Fincorp NCD Tranche II March 2026) Detail

[.]| Listing at BSE | Fri, Mar 13, 2026 - Mon, Mar 23, 2026

IPO Stats

Muthoot Fincorp Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture , issued under a Shelf Prospectus of ₹3,000.00 Cr with a base issue size of ₹200.00 Cr and an option to retain oversubscription up to ₹400.00 Cr, aggregating to a tranch issue size of ₹600.00 Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.

Muthoot Fincorp Ltd. NCD issue opens on Mar 13, 2026 and closes on Mar 23, 2026. NCD are proposed to be listed on the BSE.

The minimum lot size is 10 NCDs, requiring a minimum investment of ₹10,000 , while the market lot for trading is 1 NCD.

The issue offers interest rates ranging from 8.37% per annum to 9.10% per annum, depending on the series and tenure selected.

The NCD have been rated: AA- Positive by Crisil Ratings Limited and AA Stable by Brickwork Ratings India Private Limited.

Nuvama Wealth Management Ltd. is the Lead Manager to the issue, Vardhman Trusteeship Pvt.Ltd. is the Debenture Trustee, and Integrated Registry Management Services Pvt.Ltd. is the Registrar to the Issue.

Investors are advised to refer to the NCD Tranche Offer Document and Shelf Prospectus for detailed information on risk factors, financials, and the terms of the issue.

Open Date

Fri, Mar 13, 2026

Close Date

Mon, Mar 23, 2026

Issue Size (Tranche)

₹600.00 Cr

Coupon Rate

Upto 9.1% p.a.

IPO Details

Security Name

Muthoot Fincorp Ltd
Issue Size (Base)

₹200.00 Cr
Tranche Issue Size

₹600.00 Cr
Tranche Number

2
Face Value

₹1000 each NCD
Market Lot

1 NCD
Basis of Allotment

FCFS

Security Type

Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Oversubscription)

₹400.00 Cr
Issue Size (Shelf)

₹3,000.00 Cr
Issue Price

₹1000 per NCD
Minimum Lot size

10 NCD
Listing at

BSE
Debenture Trustee/s

Vardhman Trusteeship Pvt.Ltd.

NCD Coupon Rates

#	Series 1	Series 2	Series 3	Series 4	Series 5	Series 6	Series 7	Series 8	Series 9	Series 10	Series 11	Series 12
Frequency of Interest Payment	Monthly	Monthly	Monthly	Monthly	Annual	Annual	Annual	Annual	Cumulative	Cumulative	Cumulative	Cumulative
Nature	Secured	Secured	Secured	Secured	Secured	Secured	Secured	Secured	Secured	Secured	Secured	Secured
Tenor	24 Months	36 Months	60 Months	72 Months	24 Months	36 Months	60 Months	72 Months	24 Months	36 Months	60 Months	72 Months
Coupon (% per Annum)	8.37%	8.52%	8.65%	8.75%	8.70%	8.85%	9.00%	9.10%	NA	NA	NA	NA
Effective Yield (% per Annum)	8.70%	8.85%	9.00%	9.10%	8.69%	8.84%	8.99%	9.09%	8.70%	8.85%	9.00%	9.10%
Amount on Maturity (In Rs.)	Rs 1,000.00	Rs 1,000.00	Rs 1,000.00	Rs 1,000.00	Rs 1,000.00	Rs 1,000.00	Rs 1,000.00	Rs 1,000.00	Rs 1,181.84	Rs 1,289.99	Rs 1,538.99	Rs 1,687.16

NCD Rating

Muthoot Fincorp Ltd. NCD Rating given as following :

# Rating Agency	NCD Rating	Outlook	Safety Degree	Risk Degree
1. Crisil Ratings Limited	AA-	Positive	High degree of safety	Very low credit risk
2. Brickwork Ratings India Private Limited	AA	Stable	High degree of safety	Very Low Credit Risk

Company Financials (Restated Consolidated)

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	45,456.09	38,703.57	32,134.61
Total Income	8,511.44	6,554.31	5,151.33
Profit After Tax	607.99	1,047.98	646.42
NET Worth	6,362.75	5,811.02	4,257.18
Amount in ₹ Crore

Company Promoters

Thomas John Muthoot, Thomas George Muthoot and Thomas Muthoot are the company promoters.

NCD Allocation

Category	Allocated (%)	Shares Reserved
Institutional	10.00%	2,00,000
Non-Institutional	20.00%	4,00,000
HNI	40.00%	8,00,000
Retail	30.00%	6,00,000
Total	100.00%	20,00,000

About Muthoot Fincorp Ltd.

Incorporated in 1997, Muthoot Fincorp Limited is a non-deposit-taking NBFC. The company primarily offers personal and business loans secured by gold ornaments and jewellery. The gold loan product is available for both personal and business purposes and meets individuals’ short-term liquidity needs.

The company’s gold loan portfolio comprised around 35.38 lakhs and 34 lakhs of loan accounts as of September 30, 2025, and March 31, 2025, respectively.

As of December 31, 2025, the Company operated 3,757 branches across 25 states, including the Andaman and Nicobar Islands and Delhi, employing 29,663 staff, including 70 contracted experts.

The company offers the following gold loan products, among others:

Muthoot Blue Guide Gold Loans
Muthoot Blue Bright Gold Loan
Muthoot Blue Power Gold Loan
Muthoot Blue Bigg Gold Loan
Muthoot Blue Smart Gold Loan 24×7 Express Gold Loan

Apart from gold loans, the company also offers foreign exchange and money transfer services as a sub-agent of various registered money transfer agents. Muthoot Fincorp also operates in the following business segments:

Generation and sale of wind energy through its wind farms in Tamil Nadu, and real estate business through joint venture developers of the company’s properties.

Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

# Issue Objects

Est Amt (₹ Cr.)
1 For the purpose of onward lending, financing, and for repayment/ prepayment of interest and principal of existing borrowings of the Company
2 General corporate purpose
Total

0.00

NCD Review

[Dilip Davda] This is the 27h debt issue from this company since July 2014. The last debt issue was in February 2026. The company has come with this debt offer just within a month of its previous offer. For this debt offer rates and tenors are maintained as per previous issue. The issue is maintained ratings as CRISIL/AA- Positive, and BWR AA/Stable. Well-informed investors looking for steady interest income may consider parking of moderate funds. Read detail review…

NCD Subscription Status

The Muthoot Fincorp NCD Tranche II March 2026 was subscribed 1.53 times on Mar 23, 2026 17:00. The NCD subscribed 1.16 times in Retail, 2.75 times in HNI, 0.32 times in Non-Institutional, and 0.13 times in Institutional category.

Category	Subscription (times)
Retail	1.16x
HNI	2.75x
Non-Institutional	0.32x
Institutional	0.13x
Total	1.53x

Check Day by Day Bidding Details

Company Contact Information

Muthoot Fincorp Ltd.
Muthoot Centre,
TC No 27/3022,
Punnen Road,
Thiruvananthapuram, Kerala, 695001

+91 471 491 1550
cs@muthoot.com
Visit Website

NCD Registrar

Integrated Registry Management Services Pvt.Ltd.

044 – 28140801 to 28140803
yuvraj@integratedindia.in
Visit Website

NCD Lead Manager(s)

Nuvama Wealth Management Ltd.

IPO FAQs

How to apply Muthoot Fincorp Ltd. NCD IPO?

NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.

To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.

Steps to invest in NCD IPO through GoldenPi

Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.

Visit www.goldenpi.com
Look for the “Collections” tab.
Click on Best Ongoing IPOs.
Select the desired NCD IPO.
Select the series and investment quantity.
Enter your name, email ID and mobile number for verification.
Enter PAN and demat account details,
Enter the UPI ID.
Click on “Apply IPO”.
Approve the UPI mandate.

Steps to apply for NCD IPO with Indiabonds:

Visit www.indiabonds.com
Look for the ‘Products’ section on the home page.
Go to Public Issue
Select the desired NCD.
Click on ‘Apply Now’.
Select the investor type and category.
Select the investment series and enter the quantity.
Click on Invest.
Enter the personal details, i.e. name, date of birth, e-mail, contact, address, demat information and payment details.
Preview and confirm the form.
Confirm the UPI mandate upon receipt.

How to buy Muthoot Fincorp Ltd. NCD?

You can buy or invest in NCD IPOs through the following intermediaries:

Registered stock brokers, for example, Angel Broking.
Self-certified underwriters.
Depository Participants.
NSE platform – NSEgoBid.
BSE platform – BSEDirect.

The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.

Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.

Important links :

Web links of BSEDirect and NSEgoBID.
PlayStore links for BSEDirect and NSEgoBID.
AppStore links for BSEDirect and NSEgoBID.

Read more about NCD Application Process.

What is the coupon rate in Muthoot Fincorp Ltd. NCD?

The coupon rates for Muthoot Fincorp Ltd. NCDs vary depending on the series and tenure.

Specifically, Series 1 offers 8.37% for 24 months, Series 2 offers 8.52% for 36 months, Series 3 offers 8.65% for 60 months, Series 5 offers 8.70% for 24 months, Series 4 offers 8.75% for 72 months, Series 6 offers 8.85% for 36 months, Series 7 offers 9.00% for 60 months, Series 8 offers 9.10% for 72 months, and the highest coupon rate of 9.10% is offered for Series 8 with tenures 72 months.

What is the minimum amount to be invested in Muthoot Fincorp Ltd. NCD?

The minimum amount required for NCD investment is Rs. 10,000.

Generally, the minimum lot size of NCD is 10, and the face value is 1,000.

How to check Muthoot Fincorp Ltd. NCD Allotment status?

NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.

Steps to check the NCD allotment status at the BSE:

Visit the BSE status of the issue application page.
Select the Issue type – Debt.
Select the Issue name from the drop-down list.
Enter your application number or PAN.
Tick ‘I’m not a robot’ button.
Click on Search.

Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant’s Aadhaar number to check the status.

Generally, all applicants receive full allotment due to the retention of the oversubscription option.

Read more information on NCD Subscription and NCD Allotment Process.

Can we withdraw Muthoot Fincorp Ltd. NCD before maturity?

No, you cannot withdraw or redeem Muthoot Fincorp Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:

Listing on Stock Exchange (Secondary Market Sale)

If the NCDs are listed on stock exchanges (like BSE/NSE), you can:

Sell them on the exchange before maturity, just like shares.

Early redemption by the company

Only possible if a “call option” exists.

Read more about NCD Subscription and Allotment Process

Can the Muthoot Fincorp Ltd. NCD bid be cancelled or withdrawn after applying?

Bid Cancellation and Withdrawal Policy for NCD Applicants

Before Issue Closure:
Applicants are allowed to cancel their bid at any time before the issue closing date.
After Issue Closure:
Some issuers may permit bid withdrawal even after the issue has closed.
In such cases, the applicant must:
- Submit a withdrawal request to the Registrar to the Issue.
- Ensure the request is made before the finalisation of the Basis of Allotment.
- Submit the request no later than two working days from the date of issue closure (or early closure, if applicable).

Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.