MUTHOOTFIN

MUMBAI, May 22 (Reuters) - India's Muthoot Finance MUTT.NS plans to raise up to 50 billion rupees ($519.41 million), including a greenshoe option of 18.65 billion rupees, through a sale of floating-rate bonds maturing in three years and two months, three bankers said on Friday.

The bonds will carry an initial coupon of 8.52%, with subsequent resets linked to the three-month Treasury bill yield plus a spread of 315 basis points, they said, adding that the company has invited commitment bids for the issue on Monday.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on May 22:

*Size includes base plus greenshoe for some issues

($1 = 96.2625 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Ronojoy Mazumdar)

((Dharamraj.dhutia@tr.com, khushi.malhotra@tr.com))

** Shares of Muthoot Finance MUTT.NS fall as much as 6.4% last down down 3.1% to 3,421.3 rupees

** Co's quarterly profit doubles to 30.86 billion rupees in the March-qtr

** BofA ("Buy"; PO: 4,410 rupees) says new customer acquisition remains relatively muted; adds risks to stock might emerge from gold price decline and major NBFCs increasing their focus on gold financing

** Ambit Capital ("Sell"; PT: 2,856 rupees) says competition in gold loans is only intensifying, especially from players with highly competitive liability costs; sees loan growth moderating to ~12% CAGR over FY26 to FY29E

** Stock rated as "Hold" by 20 analysts; median PT at 4,000 rupees as per data compiled by LSEG

** YTD, stock down 12.4%

(Reporting by Mridula Kumar in Bengaluru)

((Mridula.Kumar@thomsonreuters.com;))

May 14 (Reuters) - Muthoot Finance Ltd MUTT.NS:

• MUTHOOT FINANCE MARCH-QUARTER PROFIT 30.86 BILLION RUPEES

• MUTHOOT FINANCE MARCH-QUARTER TOTAL REVENUE FROM OPERATIONS 81.8 BILLION RUPEES

Source text: ID:nnAZN4SW8PH

Further company coverage: MUTT.NS

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MUMBAI, April 21 (Reuters) - India's Muthoot Finance MUTT.NS plans to raise 30 billion rupees ($320.93 million) selling bonds maturing in five years, three bankers said on Tuesday.

The company will pay a coupon of 8.52% and has invited commitment bids for the issue earlier in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on April 21:

* Size includes base plus greenshoe for some issues

($1 = 93.4775 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Ronojoy Mazumdar)

((Dharamraj.dhutia@tr.com))

MUMBAI, April 16 (Reuters) - India's Muthoot Finance MUTT.NS has accepted bids worth 30 billion rupees ($321.6 million) for bonds maturing in three years and two months, three bankers said on Thursday.

The company will pay a coupon of 8.45% annually and had invited commitment bids for the issue earlier in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on April 16

*Size includes base plus greenshoe for some issues

($1 = 93.2762 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

((Dharamraj.dhutia@tr.com))

MUMBAI, April 15 (Reuters) - India's Muthoot Finance MUTT.NS plans to raise up to 30 billion rupees ($10.7 million), including a greenshoe option of 10 billion rupees, through the sale of bonds maturing in three years and two months, three bankers said on Wednesday.

It will pay a coupon of 8.45% annually and has invited commitment bids for the issue on Thursday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on April 15:

*Size includes base plus greenshoe for some issues

($1 = 93.3600 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema)

((Dharamraj.dhutia@tr.com, khushi.malhotra@tr.com))

Feb 13 (Reuters) - Shares of India's Muthoot Finance MUTT.NS fell more than 11% on Friday, putting the stock on track for its biggest daily percentage drop since August 2022, as investors questioned the sustainability of an earnings spike.

The gold loan provider on Thursday posted a near doubling of its quarterly profit.

Brokerages said that a large part of the profit came from interest income write-backs on loan recoveries, while core margins softened sequentially and active customer additions dipped.

(Reporting by Surbhi Misra in Bengaluru; Editing by Mrigank Dhaniwala)

((Surbhi.Misra@thomsonreuters.com | X: https://twitter.com/SurbhiMisra_ |;))

Feb 12 (Reuters) - Indian gold loan financier Muthoot Finance MUTT.NS reported a surge in third-quarter profit on Thursday, driven by strong loan demand amid record-high gold prices.

The company's profit nearly doubled to 26.56 billion rupees ($293.14 million) for the quarter ended December 31, compared with 13.63 billion rupees a year earlier.

Gold prices XAU= touched multiple record highs in the October to December quarter. Higher prices benefit gold financiers as the value of pledged gold increases, enabling borrowers to secure larger loans against the same quantity of gold.

Additionally, tighter lending conditions in the unsecured loan segment have prompted more borrowers to turn to gold loans as an alternative source of funding.

Muthoot Finance's standalone loan assets under management rose 51% year-on-year to 1.48 trillion rupees at the end of the quarter.

Reflecting robust loan growth so far this fiscal year, the company in November raised its fiscal 2026 gold loan growth outlook to 30%–35%, up from 15% previously.

Interest income for the third quarter jumped about 63% to 71.14 billion rupees.

Asset quality also improved sequentially, with gross stage-three loans — or loans overdue by more than 90 days — declining to 1.58% of total loans at the end of December, from 2.25% three months earlier.

Shares of the company closed 3.4% higher ahead of the results.

($1 = 90.6050 Indian rupees)

(Reporting by Nishit Navin and Brijesh Patel in Bengaluru; Editing by Ronojoy Mazumdar and Janane Venkatraman)

((Nishit.Navin@thomsonreuters.com;))

Changes sourcing, adds company statement

By Dharamraj Dhutia

MUMBAI, Jan 30 (Reuters) - India's Muthoot Finance MUTT.NS has accepted bids worth $600 million for dollar-denominated bonds maturing in four years and six months, the country's largest gold finance company said in a notice to stock exchanges on Friday.

The company will offer a yield of 5.75% to investors, below the initial price guidance of 6.1250%, two merchant bankers said.

"The net proceeds from each issue of notes will be applied by the issuer for the purpose of onward lending and other activities as may be permitted by the ECB Guidelines," Muthoot Finance said in the notice.

Financial research firm CreditSights puts the fair value of the issuance at 5.75% and rates it "market perform", citing the company's strong fundamentals.

In August 2025, Muthoot Finance raised $600 million through a similar bond issue, and another $150 million via a reissue in October.

We expect a similar fact pattern for the current bond, as $750 million may be too large for the issuer to deploy in a quarter, and so a benchmark new issue can be expected in the following quarter, CreditSights said in a note.

The bonds are expected to be rated 'Ba1' by Moody's Investors Service and 'BB+' by S&P, in line with the issuer's ratings, the bankers said.

This is the third dollar-bond sale from India this year after EXIM Bank and an Indian unit of U.S.-listed ReNew Energy Global RNW.O raised an aggregate of $1.6 billion.

(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)

((Dharamraj.Dhutia@thomsonreuters.com;))

By Nishit Navin and Bharath Rajeswaran

Jan 12 (Reuters) - Indian banks are expected to post better annual and sequential earnings in the December quarter, supported by improving loan growth and stable asset quality, though pressure on deposit growth is likely to cap upside, brokerages said.

Analysts expect private sector banks to post average profit after tax growth of about 3.5%–5% year-on-year for October-December, higher than the 2% rise in the year-ago period. State-owned lenders are seen registering a more modest 2.5%–3% rise.

Credit momentum, the pace of loan growth, has strengthened in recent months on festive-season spending and Goods and Services Tax (GST) cuts, signalling a rebound in credit appetite in the world's fastest-growing major economy. Major lenders posted double-digit loan growth in the December quarter.

Net interest income (NII) is expected to improve sequentially as loan growth picks up.

"NII is likely to see a sequential uptick in the December quarter, driven by better loan growth," said Vishal Narnolia, assistant vice-president, research, at ICICI Securities.

Motilal Oswal estimates NII growth of around 6% year-on-year and 4% quarter-on-quarter in the third quarter.

Net interest margins (NIMs) are expected to remain flat, as the benefits of lower term deposit rates and recent cash reserve ratio (CRR) cuts offset the lagged impact of cumulative rate cuts.

The Reserve Bank of India has cut the repo rate by 125 basis points since February 2025. Asset quality is expected to remain stable, with easing stress in unsecured retail and microfinance portfolios, while provisions are expected to fall sequentially.

Among non-bank lenders, a recovery in demand across select segments and stable asset quality should underpin performance in the December quarter.

Gold financiers, such as Manappuram Finance MNFL.NS and Muthoot Finance MUTT.NS, are expected to post about 39% growth in assets under management on strong gold loan demand, while vehicle financiers should benefit from improved disbursement momentum amid pent-up demand, tax cuts and festive tailwinds.

By contrast, housing finance companies may report weaker disbursements due to intense competition from banks.

Outside lending, exchanges and brokers are expected to post robust revenue growth on a recovery in derivatives volumes and a rise in commodity trading activity.

Life insurers are also seen reporting strong earnings, supported by tax cuts that boost protection demand, and lower interest rates.

Looking ahead, Narnolia said the March quarter should benefit from deposit repricing and a pickup in unsecured retail segments such as microfinance and credit cards, though lending yields will remain under pressure after the RBI's latest rate cut.

(Reporting by Nishit Navin and Bharath Rajeswaran in Bengaluru; Editing by Rashmi Aich)

((Nishit.Navin@thomsonreuters.com;))

MUMBAI, Nov 18 (Reuters) - India's Muthoot Finance MUTT.NS is planning to raise up to 17.5 billion rupees ($197.44 million), including a greenshoe option of 12 billion rupees, through the reissue of 7.88% November 2028 bond and 8.03% January 2031 bond, three bankers said on Tuesday.

It has invited coupon and commitment bids for the issue on Wednesday, they said.

The company did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on November 18:

*Size includes base plus greenshoe for some issues

($1 = 88.6360 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra)

((Dharamraj.dhutia@tr.com, Khushi.malhotra@tr.com))

Rewrites throughout, adds analyst comment in paragraphs 4,5

Aug 14 (Reuters) - Shares of India's Muthoot Finance MUTT.NS jumped as much as 11.5% to hit an all-time high on Thursday after robust loan growth cemented investor confidence in the company's ability to sustain industry-leading growth.

Muthoot's shares looked set to gain the most since June 2020, and were last up at a record 2,760.80 rupees.

On Wednesday, it reported a bigger-than-expected 90% surge in first-quarter profit, aided by a 42% jump in loan assets under management as prices of the precious metal soared.

Jefferies analysts raised Muthoot's fiscal 2026 earnings per share estimates by nearly a fifth, citing stronger loan growth and lower credit costs.

Analysts at Nuvama said Muthoot's earnings were "substantially better than peers," adding that company is confident of maintaining growth.

Muthoot Finance shares were trading up 10.2% as of 9:54 a.m. IST and were the top percentage gainer on the Nifty Financial Services .NIFTYFIN index.

At least two analysts upgraded their rating on the "buy" rated stock, while 10 raised their price target, according to data compiled by LSEG.

The stock is up about 30% so far this year, outperforming rival IIFL Finance's IIFL.NS 9% rise, but trails Manappuram Finance's MNFL.NS 40% jump.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Janane Venkatraman)

((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))

Aug 13 (Reuters) - Muthoot Finance Ltd MUTT.NS:

• Q1 PROFIT 20.46 BILLION RUPEES; IBES PROFIT EST. 16.24 BILLION RUPEES

• Q1 INTEREST INCOME 55.92 BILLION RUPEES

Source text: [ID:]

Further company coverage: MUTT.NS

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MUMBAI, Aug 5 (Reuters) - India's Muthoot Finance MUTT.NS has accepted bids worth 15 billion rupees ($171.6 million) for reissue of November 2027 bonds, three bankers said on Tuesday.

It will offer a yield of 7.85% to the investors of this issue and had invited bids earlier in the day, they said.

The company declined to comments on the matter.

Here is the list of deals reported so far on August 5:

*Size includes base plus greenshoe for some issues.

(Reporting by Dharamraj Dhutia and Khushi Malhotra)

((Dharamraj.dhutia@tr.com))

July 22 (Reuters) - Muthoot Finance Ltd MUTT.NS:

• MUTHOOT FINANCE LTD - GETS TAX DEMAND OF 5.4 MILLION RUPEES WITH INTEREST AND PENALTY

Source text: ID:nNSEMHDbs

Further company coverage: MUTT.NS

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MUMBAI, June 25 (Reuters) - India's Muthoot Finance MUTT.NS has accepted bids worth 8 billion rupees ($92.97 million) for bonds maturing in two years and five months, three bankers said on Wednesday.

The non-banking finance company will pay an annual coupon of 8.05% and had invited bids from bankers and investors earlier in the day, they said.

Muthoot Finance did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on June 25:

*Size includes base plus greenshoe for some issues

($1 = 86.0480 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)

((Dharamraj.dhutia@tr.com))

MUMBAI, June 24 (Reuters) - India's Muthoot Finance MUTT.NS plans to raise 10 billion rupees ($116.05 million), which includes 5 billion rupees of a greenshoe option, through sale of bonds maturing in two years and five months, three bankers said on Tuesday.

The non-banking finance company has invited bids from bankers and investors on Wednesday, they said.

Muthoot Finance did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on June 24:

*Size includes base plus greenshoe for some issues

($1 = 86.1700 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

((Dharamraj.dhutia@tr.com))

MUMBAI, June 11 (Reuters) - India's Muthoot Finance MUTT.NS accepted bids worth 10.35 billion rupees ($121 million) for the reissue of 8.50% May 2028 and 8.20% April 2030 bonds, three bankers said on Wednesday.

The non-banking finance company had invited bids from bankers and investors on Tuesday, they said.

Muthoot Finance did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on xx

*Size includes base plus greenshoe for some issues

($1 = 85.5500 Indian rupees)

(Reporting by Dharamraj Dhutia)

((Dharamraj.dhutia@tr.com))

MUMBAI, June 6 (Reuters) - India's Muthoot Finance MUTT.NS plans to raise 18 billion rupees ($210.2 million), including a greenshoe option of 15 billion rupees, through the reissue of 8.50% May 2028 and 8.20% April 2030 bonds, three bankers said on Friday.

The non-banking finance company will invite bids from bankers and investors on Tuesday, they said.

Muthoot Finance did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on June 6:

*Size includes base plus greenshoe for some issues

($1 = 85.6370 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

((Dharamraj.dhutia@tr.com))

MUMBAI, May 30 (Reuters) - India's Muthoot Finance MUTT.NS plans to raise 15 billion rupees ($175.5 million), including a greenshoe option of 10 billion rupees, through the reissue of 8.20% April 2030 bonds, three bankers said on Friday.

The non-banking finance company has invited coupon and commitment bids from bankers and investors on Monday, they said.

Muthoot Finance did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on May 30:

*Size includes base plus greenshoe for some issues

($1 = 85.4600 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

((Dharamraj.dhutia@tr.com))

MUMBAI, May 20 (Reuters) - India's Muthoot Finance MUTT.NS plans to raise 20 billion rupees ($234.18 million), including 10 billion rupees of a greenshoe option, through the sale of bonds maturing in three years and three months, three bankers said on Tuesday.

The non-banking finance company has invited coupon and commitment bids from bankers and investors for the issue on Wednesday, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on May 20:

*Size includes base plus greenshoe for some issues

($1 = 85.4050 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee
)

((Dharamraj.dhutia@tr.com; Khushi.malhotra@tr.com))

** Shares of Muthoot Finance MUTT.NS rise as much as 4.7% to 2,211 rupees before closing up 4.5%

** India's largest gold finance company declares interim dividend of 26 rupees ($0.31) per share

** More than 1.4 mln shares change hands, 1.4x their 30-day avg

** Avg rating of 20 analysts equivalent of "buy", median PT is 2,500 rupees - data compiled by LSEG

** Stock turns YTD positive

($1 = 85.0950 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

((ashish.chandra@thomsonreuters.com (+91 7982114624))

MUMBAI, April 4 (Reuters) - India's Muthoot Finance MUTT.NS has accepted bids worth 30 billion rupees ($351.8 million) for sale of bonds maturing in three years, as well as in three years and 49 days, three bankers said on Friday.

The non-banking finance company will pay an annual coupon of 8.52% on each issue and had invited bids from bankers and investors earlier in the day, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on April 4:

*Size includes base plus greenshoe for some issues

($1 = 85.2825 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

((Dharamraj.dhutia@tr.com))

MUMBAI, April 3 (Reuters) - India's Muthoot Finance MUTT.NS plans to raise 30 billion rupees ($350.21 million) through the sale of bonds maturing in three years, as well as in three years and 49 days, three bankers said on Thursday.

The non-banking finance company will pay an annual coupon of 8.52% on each issue and has invited bids from bankers and investors on Friday, they said.

The company did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on April 3:

* Size includes base plus greenshoe for some issues

($1 = 85.6630 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sherry Jacob-Phillips)

((Dharamraj.dhutia@tr.com))

MUMBAI, March 20 (Reuters) - Muthoot Finance MUTT.NS, India's largest gold finance company, has accepted bids worth $250 million on the reissuance of its dollar-denominated bonds, two merchant bankers said on Thursday.

The firm will offer a yield of 6.6510% to the investors of the issue. Muthoot Finance received bids worth $740 million across investor categories as well as geographies.

In October, it raised $400 million through the sale of 6.3750% April 2029 bonds.

The proceeds from the reissue will be used for onward lending and other activities, the company said in a stock exchange filing on Wednesday.

It did not reply to a Reuters email seeking comment.

(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)

((Dharamraj.dhutia@tr.com))

** Shares of Muthoot Finance MUTT.NS rise about 4% to a record high of 2,423.50 rupees apiece

** Gold loan financier raises its fiscal year 2025 AUM growth guidance to 40% from 25%-30% earlier

** On Friday, MUTT informed the exchanges that its gold loan AUM crossed 1 trillion rupees ($11.6 billion)

** S&P Global Rating says MUTT will maintain its earnings over the next 12 months, upgrades credit rating to 'BB+/B' from 'BB/B'

** Rising demand for gold loans in both rural and urban markets has improved the outlook and spurred the earnings upgrade, managing director Alexander George Muthoot tells CNBC-TV18

** MUTT up 12.4% YTD, outperforming the 3% rise in financials .NIFTYFIN and 11.7% fall in midcaps .NIFMDCP100

($1 = 86.5160 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

** Shares of Muthoot Finance MUTT.NS rise as much as 5.1% to 2,308 rupees, set for best day in over a month

** Gold loan financier says gold loan assets under management (AUM) crossed 1 trln rupees ($11.5 bln) on March 13

** Over 700,000 shares traded as of 10:20 a.m. IST, over their 30-day moving avg of 690,005 shares

** Mean rating of stock is 'buy'; their median PT is 2,490.5 rupees - data compiled by LSEG

** MUTT last up 4.5%, adding to YTD gains of 2.8%

($1 = 86.8400 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

((meenakshi.maidas@thomsonreuters.com;))

March 14 (Reuters) - Muthoot Finance Ltd MUTT.NS:

• CROSSES 1 TRLN RUPEES GOLD LOAN AUM

Further company coverage: MUTT.NS

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