Muthoottu Mini Financiers NCD Dec 2021 Details

Muthoottu Mini Financiers NCD Dec 2021 Details

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Muthoottu Mini Financiers NCD Dec 2021 is opening for subscription from 01 December 2021. company eyes an issue size of ₹200 crores through this NCD issue.

Muthoottu Mini Financieris

The company is a non-deposit taking systemically important NBFC in the gold loan sector lending money against the pledge of household gold jewelry (Gold Loans) in the state of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Gujarat, Delhi and Goa and the union territory of Puducherry. It also has a microfinance loan segment wherein it provides unsecured loans to a joint liability group of women customers (minimum of 5 persons) who require funds to carry out their business activities through a few branches in the state of Kerala.

Muthoottu Mini Financiers’ Gold Loan portfolio as of 30 September 2021 comprised of 3,95,175 accounts. Its Gold Loans aggregated to INR2,033.06 crore which is 97.41 % of total loans and advances as on such specific dates. We, as of 30 September 2021, had a network of 809 branches spread in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Gujarat, Delhi, and Goa and the union territory of Puducherry, and the company employed 3,205 persons in business operations.

Its Gold Loan customers are individuals primarily from rural and semi-urban areas. For the six months period ended on 30 September 2021 and for FY2021, the average loan amount advanced by the company was INR51,447 and INR50,118 per loan transaction, respectively. Its Gold Loan product mix varies from 30 days up to 365 days tenure with varying rates of interest and amount of loan to suit the requirements of the customers. For the six months period ended on 30 September 2021 and for FY2021, its yield on Gold Loan assets was 19.39% and 19.57%, respectively.

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

Subscription Dates01 – 28 December 2021
Security TypeSecured, Redeemable, Non-Convertible Debentures
Face Value₹1,000 per NCD
Issue Price₹1,000 per NCD
Issue Size (Base)₹100 crore
Overall Issue Size (including oversubscription)₹200 crore
Minimum Lot size10 NCDs
Market Lot1 NCD
Tenor480 Days
24 Months
36 Months
48 Months
66 Months
Credit RatingCARE BBB+ Stable
Category ReservationCategory 1 (QIB): 10%
Categry 2 (NII): 40%
Category 3 (Retail): 50%
Basis of AllotmentFirst Come First Serve
Listing OnBSE

NCD Rating Details

The issue has been rated ‘CARE BBB+’: Stable (‘Triple B Plus; Outlook: Stable’) by CARE Ratings Limited. Instruments with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations and carry moderate credit risk. .

Options and Coupon Rates

OptionTenureInterest PaymentCoupon Rate Effective YieldMaturity Amount
Series 1480 daysMonthly8.50%8.84%₹1,000
Series 224 monthsMonthly8.75%9.11%₹1,000
Series 324 monthsCumulativeNA9.09%₹1,190
Series 436 monthsCumulativeNA9.50%₹1,313
Series 548 monthsMonthly9.75%10.20%₹1,000
Series 666 monthsCumulativeNA10.13%₹1,700

NCD Allocation Ratio

NCD’s allocated in each investor category:

Category NCD’s Allocated
Category 40%

Company Financials

ParticularsFor the year/period ended (₹ in Million)
Total Assets25,234.8120,256.47
Total Revenue3,682.543,131.53
Profit After Tax319.11335.42

The promoter of Muthoottu Mini Financiers 

  • Nizzy Mathew
  • Mathew Muthoottu

Lead Manager

  • Vivro Financial Services Private Limited

Registrar of Muthoottu Mini Financiers NCD

Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg,
Vikhroli (West), Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195

Company Contact Details

Muthoottu Mini Financiers Limited
Muthoott Royal Towers
Kaloor, Kochi – 682017, Kerala
Phone: +91 484 291 2100

NCD Allotment Status

Muthoottu Mini Financiers NCD Dec 2021 allotment status will be updated at the website of Link Intime.

Click on this link to get allotment status.

Final Thoughts

Non Convertible Debentures (NCD) is a better investment option for those who are looking for a diversified portfolio. investing in Muthoottu Mini Financiers NCD Dec 2021 is purely your personal choice. make a good study and analysis before you make the investment.

Happy Investing

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