Muthoottu Mini NCD March 2021 will open for subscription from 30 March 2021 to 23 April 2021. the company aims for a base issue size of ₹125 Crores through this NCD issue.
Muthoottu Mini Financiers Limited
Incorporate in 1998, Muthoottu Mini is an NBFC company (non-deposit) involved in the gold loan business lending money against the
pledge of household gold jewelry. The company’s Gold Loan portfolio as of March 31, 2020, comprises 4.37 lakhs loans aggregating to Rs 1645 Cr. which is 97.26% of its total loans. The company has introduced an online gold loan product wherein the customer has to come to the branch only for the initial appraisal and subsequent disbursement is done online based on the customer’s request during the maximum period of one year.
The company also offers microfinance loans, unsecured loans to the joint liability group of women customers (minimum of 5 persons) who require funds to carry out their business activities. In addition to the loan business, the company also offers depository participant services, money transfer services, insurance broking services, PAN card-related services, and travel agency services. The company employs 3,109 persons and had a network of 785 branches as of June 30, 2020.
Objects of the Issue
- For the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on
borrowings of the Company. - General corporate purposes.
NCD details
| Issue Open | 30 March 2021 |
| Issue Closing | 23 April 2021 |
| Security Name | Muthoottu Mini Financiers Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) and/or Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs) |
| Base Issue Size | ₹ 125 Crores |
| Issue Size (Shelf) | ₹ 125 Crores |
| Issue Price | ₹ 1000 per NCD |
| Face Value | ₹ 10 for each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Credit Rating | ‘IND BBB’: Outlook Stable’ by India Ratings |
| Tenor | 480 Days, 24, 42, 50, 61, and 84 Months |
| Payment Frequency | Monthly, Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Listing at | BSE |
Coupon Rates
| Tenure | 480 Days | 24 months | 24 months | 42 months | 50 months | 61 months | 84 months |
|---|---|---|---|---|---|---|---|
| Options | I | II | III | IV | V | VI | VII |
| Frequency of Interest Payment | Monthly | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative |
| Minimum Application | 10 NCDs (Rs 10,000) (across all options of NCDs) | ||||||
| In multiples, of | 1 NCD after the minimum application | ||||||
| Face Value of NCDs (Rs/NCD) | Rs 1,000 | ||||||
| Issue Price (Rs /NCD) | Rs 1,000 | ||||||
| Coupon (%) per annum | 9.00% | 9.25% | NA | 9.75% | NA | 10.25% | NA |
| Redemption Amount (Rs/NCD) | 1,000 | 1,000 | 1,194 | 1,000 | 1,500 | 1,000 | 2,000 |
| Effective Yield (%) (per annum) | 9.38% | 9.65% | 9.27% | 10.20% | 10.22% | 10.75% | 10.41% |
NCD’s Offered
| Category | NCD’s Reserved |
|---|---|
| Category 1 (QIB) | 125,000 |
| Category 2 (NII) | 500,000 |
| Category 3 (HNI) | 625,000 |
| Category 4 (RII) | 0 |
| Total NCD’s | 1,250,000 |
Company Promoters
- Nizzy Mathew
- Mathew Muthoottu
Muthoottu Mini NCD March 2021 Lead Manager
- Vivro Financial Services Private Limited
NCD Registrar
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Website: http://www.linkintime.co.in
Company Contact Information
Muthoottu Mini Financiers Limited
2/994, Muthoottu Buildings,
Kozhencherry, Pathanamthitta – 689 641,
Kerala, India
Phone: +91 468 231 4391
Website: http://www.muthoottumini.com/
Final Thoughts
Non Convertible Debentures (NCD) is a better investment option for those who are looking for a diversified portfolio. investing in Muthoottu Mini NCD March 2021 is purely your personal choice. make a good study and analysis before you make the investment.
Happy Investing