Key Quantitative Figures

  • Number of NCDs allotted: 2,00,000 (Two Lakh)
  • Face value per NCD: ₹10,000
  • Total issue size: ₹200 Crores (Rupees Two Hundred Crores only)
  • Coupon rate: 9.25% per annum
  • Tenure: 36 months
  • Minimum asset coverage ratio: 1.1 times

Parties Involved

  • Issuer: Muthoot Capital Services Limited
  • Stock exchange for listing: BSE Limited

Instrument Details

Type: Senior, Secured, Rated, Listed, Redeemable, Taxable, Transferrable, Non-Convertible Debentures

Payment Structure:

  • Coupon Frequency: Monthly
  • Principal Payment Frequency: Bullet (lump sum at maturity)

Security Details:

  • Pari Passu charge with existing secured creditors
  • Charge covers standard loan receivables and current assets (both present and future)
  • Charge held in favour of Debenture Trustee
  • Minimum asset coverage ratio of 1.1 times of outstanding Debenture amounts must be maintained at all times until redemption

Special Features:

  • Step-up clause: Coupon increases by 25 basis points for each notch downgrade from current 'AA-' rating
  • Step-down clause: If rating upgrades after downgrade, coupon decreases by 25 basis points for each notch upgrade up to original 'AA-' rating
  • Coupon rate will never go below initial 9.25% rate
  • Default interest rate: 2% p.a. over and above Coupon Rate if payment delay exceeds three months from due date

Listing Status: Proposed to be listed on BSE Limited

Regulatory Reference: Filed pursuant to applicable Regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Committee Approval

The Debenture Issue and Allotment Committee approved the allotment on October 14, 2026. The meeting duration was from 10:00 AM to 11:15 AM.

#Tags: #MuthootCapitalServices #NCD #DebentureIssue #SEBIDisclosure #Fundraising #Neutral