Muthoot Fincorp NCD public issue, Sept 2026
Closed
Muthoot Fincorp's public issue of secured redeemable non-convertible debentures ran from 8 Sept 2026 to 22 Sept 2026 and is closed. The issue was sized at ₹700 crore including the option to retain oversubscription. Effective yields run 8.90% to 9.25% across 10 series over tenors of 24 to 72 months. This page is kept for reference: the terms below are what the cited sources published at the time.
Issue details
| Status | Closed 22 Sept 2026 |
|---|---|
| Subscription window | 8 Sept 2026 to 22 Sept 2026 |
| Allotment | not stated in the sources cited |
| Base issue size | ₹350 crore |
| Option to retain oversubscription | ₹350 crore |
| Total issue size | ₹700 crore |
| Minimum application | ₹10,000 |
| Credit rating | AA/Stable (Crisil), AA+/Stable (Brickwork) |
| Rating agency | Crisil Ratings Limited; Brickwork Ratings India Private Limited |
| Proposed listing | BSE |
| Lead managers | Nuvama Wealth Management Ltd. |
| Prospectus | not stated in the sources cited |
Series on offer
| Series | Tenor | Coupon | Effective yield | Interest payout |
|---|---|---|---|---|
| 24M monthly | 24 months | not published | 8.90% | Monthly |
| 36M annual | 36 months | not published | 9.09% | Annual |
| 36M cumulative | 36 months | not published | 9.10% | Cumulative |
| 36M monthly | 36 months | not published | 9.10% | Monthly |
| 60M annual | 60 months | not published | 9.19% | Annual |
| 60M cumulative | 60 months | not published | 9.20% | Cumulative |
| 60M monthly | 60 months | not published | 9.20% | Monthly |
| 72M annual | 72 months | not published | 9.24% | Annual |
| 72M monthly | 72 months | not published | 9.24% | Monthly |
| 72M cumulative | 72 months | not published | 9.25% | Cumulative |
The sources cited below publish an effective yield for each series but no separate coupon, so the coupon column is left blank rather than filled with the yield. On a cumulative series the two are not the same number.
How this compares with Muthoot Fincorp's listed bonds
The same issuer's listed bonds currently trade at 9% to 10.5% YTM across 9 listings on the platforms RightBonds tracks, against a best effective yield of 9.25% on this issue. This issue's best effective yield of 9.25% sits below the 10.5% top of that range, so the issuer's already-listed paper currently yields more than the new issue pays.
These are different bonds from the same issuer, with their own maturities, and a secondary-market yield moves with the price paid rather than being fixed the way an issue coupon is. Credit risk is the issuer's either way.
| Listed bond | Rating | YTM | Matures | Minimum |
|---|---|---|---|---|
| Muthoot Fincorp Dec ’33 | AA | 10.5% | Dec 2033 | ₹10,161 |
| Muthoot Fincorp Dec ’31 | AA | 10.4% | Dec 2031 | ₹10,101 |
| Muthoot Fincorp Dec ’30 | AA | 10% | Dec 2030 | ₹10,206 |
| Muthoot Fincorp Jul ’32 | AA | 9.2% | Jul 2032 | ₹1,02,779 |
| Muthoot Fincorp Mar ’29 | AA | 9.15% | Mar 2029 | ₹99,660 |
| Muthoot Fincorp Jul ’31 | AA | 9.1% | Jul 2031 | ₹1,023 |
| Muthoot Fincorp May ’29 | AA | 9.1% | May 2029 | ₹1,036 |
| Muthoot Fincorp Ltd. | AA | 9.1% | Sept 2029 | ₹997 |
All 9 listed Muthoot Fincorp bonds, sorted by yield.
What the sources do and do not settle
Base and greenshoe are 350 crore each, aggregating to a 700 crore tranche. A separate 3,000 crore figure carried by one aggregator is the shelf registration limit across all Muthoot Fincorp tranches, not this tranche's size. The series table publishes effective yield only, so no separate coupon is stated for any series. One source quotes the overall range as 8.89% to 9.25%, a hundredth below the lowest series listed here, which suggests one further short-tenor series that the ten sourced rows do not cover. The lead manager matches the pattern across earlier tranches but was not confirmed against a second source specific to Tranche V.
Sources
Other public issues
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- KLM Axiva Finvest NCD, Aug 2026 closed 1 Sept 2026
- ICL Fincorp NCD, Aug 2026 closed 21 Aug 2026
- Indel Money NCD, Aug 2026 closed 20 Aug 2026
- Paisalo NCD, Aug 2026 closed 17 Aug 2026
- Chemmanur Credits and Investments NCD, Aug 2026 closed 17 Aug 2026
The full NCD public issue calendar, open, upcoming and recently closed.
Dates and terms on this page come from the sources listed above and can change after publication. Verify every figure against the prospectus and the exchange filing before applying. RightBonds is not associated with the issuer or its lead managers, and nothing here is investment advice.