Muthoottu Mini Financiers NCD is opening for subscription from 12 January 2021 to 09 February 2021.
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.
Objectives of the Issue
- For the purpose of onward lending,financing and for repayment of principal and interest on borrowings of the company.
- For general corporate purpose.
Muthoottu Mini Financiers NCD Details
| Issue Open | 13 Jan 2021 |
| Issue Closing | 09 Feb 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 | ₹ 125Crores |
| Issue Size (Shelf) | ₹ 125Crores |
| Total Issue size | ₹ 125Crores |
| Issue Price | ₹ 1000 per NCD |
| Face Value | ₹ 1000 for each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Credit Rating | ‘IND BBB’ : Outlook Stable for Secured and Unsecured Redeemable Non-Convertible Debentures |
| Tenor | 480 Days, 24, 42, 66, 61 and 84 months |
| Payment Frequency | Monthly and Cumulative |
NCD’s Offered by category
| 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 |
Financial summary
| Particulars | For the year/period ended (₹ in Million) | ||
|---|---|---|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Assets | 20,256.47 | 17,061.81 | 19,671.30 |
| Total Revenue | 3,131.53 | 2,948.04 | |
| Profit After Tax | 335.42 | 233.01 |
Coupon Rates
| Tenure | 480 Days | 24 months | 24 months | 42 months | 66 months | 61 months | 84 months |
|---|---|---|---|---|---|---|---|
| Nature | Secured | Unsecured | |||||
| Options | I | II | III | IV | V | VI | VII |
| Frequency of Interest Payment | Monthly | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative |
| Minimum Application | 10 NCDs (₹10,000) (across all options of NCDs) | ||||||
| In multiples, of | 1 NCD after the minimum application | ||||||
| Face Value of NCDs (₹/NCD) | ₹1,000 | ||||||
| Issue Price (₹/NCD) | ₹1,000 | ||||||
| Mode of Interest Payment/ Redemption | Through various options available | ||||||
| Coupon (%) per annum in Category I, II and III | 9.25% | 9.50% | NA | 10.00% | NA | 10.25% | NA |
| Redemption Amount (₹/NCD) for NCD Holders in Category I, II and III | 1,000 | 1,000 | 1,200 | 1,000 | 1,750 | 1,000 | 2,000 |
| Effective Yield (%) (per annum) | 9.65% | 9.92% | 9.54% | 10.47% | 10.71% | 10.75% | 10.41% |
| Put and Call Option | Not Applicable | ||||||
| Coupon Type | Fixed |
Company promoters
- Nizzy Mathewll
- Mathew Muthoottu
Muthoottu Mini NCD Lead Managers
- Vivro financial services Pvt Ltd
Muthoottu Mini NCD Registrar
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai – 400083
Phone: +91-22-4918 6270
Email: ncd4.mmfl2020@linkintime.co.in
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
Email: cs@minimuthoottu.com
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 Financiers NCD is purely your personal choice. make a good study and analysis before you make the investment.
Happy Investing