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Manappuram Finance Limited (MFL) is one of the major NBFC players in the gold finance business in India. MFL provides loans against the pledge of household and/or used gold jewellery and provide short-term personal and business gold loans ("Gold Loans") primarily to retail customers.

MFL was incorporated as Manappuram General Finance and Leasing Limited on July 15, 1992, Kerala, under the Companies Act, 1956 as a public limited company. The name of the company was changed to Manappuram Finance Limited pursuant to a fresh certificate of incorporation dated June 22, 2011.

MFL have decades of established history in the money lending business, mainly in small-scale money lending against household and/or used gold jewellery. It has been in the gold loan financing business since 1999. Historically, the company has also provided other related services, including asset finance, money transfer and foreign exchange, sales of gold coins and business and personal lending.

MFL’s lending functions are supported by an in-house, custom developed information technology platform that allows them to, among other things, record relevant customer details, approve and disburse the loan. The technology platform also handles internal audit, risk monitoring and management of the relevant loan and pledged gold related information.

Manappuram Finance Limited NCD - Issue Details:

Issuer Manappuram Finance Limited (View Report)
Issue Type Secured Redeemable Non-Convertible Debentures
Issue Period Issue Opens: Monday, January 28, 2019
Issue Closes: Wednesday, February 27, 2019
Coupon Rate 10.15% p.a *
Issue Size Base Issue size of Rs. 150 crores with an option to retain oversubscription up to Rs. 587 crores, aggregating up to Rs. 737 Crores (“Tranche II Issue” / “Tranche II Issue Size”) which is within the Shelf Limit of Rs. 1,000 crores
Face Value Rs.1,000 per NCD
Minimum Application Size Rs.10,000 (10 NCDs) and in multiple of Rs.1,000 (1 NCD) thereafter across all Series
Credit Rating “BWR AA+’/Stable” by Brickwork and “CARE AA’/ Stable” by CARE Ratings
Mode of Allotment and Trading Compulsorily in dematerialised form
QIB 10% of issue size
Corporate 10% of issue size
HNI 30% of issue size
Retail Individual 50% of issue size
Listing Proposed on BSE
Depositories NSDL & CDSL
Registrar Link Intime India Private Limited
Book Running Lead Managers A. K. Capital Services Limited and Edelweiss Financial Services Limited
* Highest yield


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