Muthoottu Mini Financiers Limited launched a non-convertible debenture (NCD) issue, offering yields up to 10.41% for seven year tenor, on Wednesday. You can opt for monthly, annual, or cumulative interest payment options.
The issue which opened on 13th January 2021 will remain open till 09th February 2021. The NCD is being offered for tenors of 84 months and is rated “A” by CRISIL. The issue size is ₹125 crore, with the company retaining the right to keep an additional ₹125 crore from the proceeds.
Muthoottu Mini Financiers Limited NCD January 2021 Detail
| Issue Open | Jan 13, 2021 - Feb 09, 2021 |
| Security Name | Muthoottu Mini Financiers Limited |
| Security Type | Secured and Unsecured Redeemable Non-Convertible Debentures |
| Issue Size (Base) | Rs 125.00 Crores |
| Issue Size (Shelf) | Rs 125.00 Crores |
| Issue Price | Rs 1000 per NCD |
| Face Value | Rs 1000 each NCD |
| Minimum Lot size | 10 NCD |
| Market Lot | 1 NCD |
| Listing At | BSE |
| Credit Rating | IND BBB’ : Outlook Stable for Secured and Unsecured Redeemable Non-Convertible Debentures |
| Tenor | 480 Days, 24, 42, 66, 61 and 84 months |
| Series | Series I to Series IX |
| Payment Frequency | Monthly, Yearly or Cumulative |
| Basis of Allotment | First Come First Serve Basis |
Muthoottu Mini Financiers NCD Allocation Ratio
| Category | NCD's Allocated |
|---|---|
| Category 1 (QIB) | 0% |
| Category 2 (NII) | 0% |
| Category 3 (HNI) | 0% |
| Category 4 (RII) | 0% |
Muthoottu Mini Financiers NCD Coupon Rates for Eash Series
| 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 | ||||||
About Muthoottu Mini Financiers
Incorporate in 1998, Muthoottu Mini is an NBFC company (non-deposit) involved in the gold loan business lending money against thepledge of household gold jewelry. The company's Gold Loan portfolio as on 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.
Company Promoters
- Nizzy Mathew and Mathew Muthoottu are the promoters of the company.
Company Financials
Summary of financial Information (Restated Consolidated)
| 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 | |
Objects of the Issue:
The following objects are proposed to be financed from the Net Proceeds:
1. Working capital purposes
2. General corporate purposes
Muthoottu Mini Financiers NCD Jan 2021 Prospectus
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/
Muthoottu Mini Financiers NCD 2021 Registrar
Link Intime India Private Ltd
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
Muthoot Fincorp NCD FAQs
When is Muthoottu Mini Financiers NCD January 2021 public issue coming?
The Muthoottu Mini Financiers NCD Jan 2021 issue opens on Jan 13, 2021, and closes on Feb 09, 2021, for the subscription.Note that the public issue of NCD is closed early in case it is fully subscribed (base + shelf) before its issue closing day.The allotment is done on a First Come First Serve Basis.
What is Muthoottu Mini Financiers NCD January 2021 timetable?
Muthoottu Mini Financiers NCD IPO dates are as below:Muthoottu Mini Financiers NCD January 2021 Issue Timetable
Bid/Offer Opens On Jan 13, 2021 Bid/Offer Closes On Feb 09, 2021 Record Date Deemed Date of Allotment What is Muthoottu Mini Financiers NCD January 2021 price? Tell me the pricing of Muthoottu Mini Financiers NCD issue?
Muthoottu Mini Financiers NCD January 2021 price is set at ₹1000 per NCD.What is the face value of Muthoottu Mini Financiers NCD January 2021?
The NCD's will be issued at a face value of ₹1000 each NCD.What is the frequency of interest payment for Muthoottu Mini Financiers NCD January 2021?
The frequency of payment for Muthoottu Mini Financiers NCD January 2021 is Monthly, Yearly or Cumulative.What is the minimum application size for investment in Muthoottu Mini Financiers NCD January 2021 public issue?
Each application should be for a minimum of 10 NCD's and multiples of 10 NCD thereof.What is Muthoottu Mini Financiers NCD January 2021 closing time?
Muthoottu Mini Financiers NCD January 2021 remain open for subscription on working days from 10:00 a.m. to 5:00 p.m until Feb 09, 2021. The bid may close earlier in case it is fully subscribed.
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