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 Dates | 01 – 28 December 2021 |
| Security Type | Secured, 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 size | 10 NCDs |
| Market Lot | 1 NCD |
| Tenor | 480 Days 24 Months 36 Months 48 Months 66 Months |
| Credit Rating | CARE BBB+ Stable |
| Category Reservation | Category 1 (QIB): 10% Categry 2 (NII): 40% Category 3 (Retail): 50% |
| Basis of Allotment | First Come First Serve |
| Listing On | BSE |
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
| Option | Tenure | Interest Payment | Coupon Rate | Effective Yield | Maturity Amount |
| Series 1 | 480 days | Monthly | 8.50% | 8.84% | ₹1,000 |
| Series 2 | 24 months | Monthly | 8.75% | 9.11% | ₹1,000 |
| Series 3 | 24 months | Cumulative | NA | 9.09% | ₹1,190 |
| Series 4 | 36 months | Cumulative | NA | 9.50% | ₹1,313 |
| Series 5 | 48 months | Monthly | 9.75% | 10.20% | ₹1,000 |
| Series 6 | 66 months | Cumulative | NA | 10.13% | ₹1,700 |
NCD Allocation Ratio
NCD’s allocated in each investor category:
Company Financials
| Particulars | For the year/period ended (₹ in Million) | |
|---|---|---|
| 31-Mar-21 | 31-Mar-20 | |
| Total Assets | 25,234.81 | 20,256.47 |
| Total Revenue | 3,682.54 | 3,131.53 |
| Profit After Tax | 319.11 | 335.42 |
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
Email: ncd3.mmfl2021@linkintime.co.in
Website: http://www.linkintime.co.in
Company Contact Details
Muthoottu Mini Financiers Limited
Muthoott Royal Towers
Kaloor, Kochi – 682017, Kerala
Phone: +91 484 291 2100
Email: cs@minimuthoottu.com
Website: www.muthoottumini.com
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