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Muthoottu Mini Financiers Limited NCD (Muthoottu Mini Financiers NCD March 2019) Detail

Mar 18, 2019 - Apr 16, 2019

Incorporated in 1998, Kerala based Muthoottu Mini Financiers Limited is a non-deposit taking systemically important NBFC. The company is engaged in the gold loan sector lending money against gold jewelry ("Gold Loans"). It operates in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Delhi and Goa and the union territory of Puducherry.

The company has recently started microfinance lending wherein it provides unsecured loans to joint liability group of women customers (minimum of 5 persons) who need funds to carry out their business. In addition to loans, it also offers depository participant services, money transfer services, insurance, and travel services.

The Gold Loan portfolio of the company as on September 30, 2018, March 31, 2018, March 31, 2017 and March 31, 2016, were Rs 1,51,188.44 lakhs, Rs 1,55,432.83 lakhs, Rs 1,94,000.29 lakhs and Rs 1,90,555.97 lakhs. The gold loan accounts for over 95% of the total loans for these periods. The yield on Gold Loan assets was 18.69%, 18.18%, 22.20%, and 20.95%, for September 30, 2018, March 31, 2018, March 31, 2017, and March 31, 2016, respectively.

The microfinance loan portfolio as on September 30, 2018, March 31, 2018, and March 31, 2017, were Rs 5,384.83 lakhs, Rs 7,240.57 lakhs and Rs 1,329.45 lakhs accounting for 3.43%, 4.44% and 0.68% of the total loans and advances of the company.

The company has 767 branches and employs 2,905 persons in our business operations.

Muthoottu Mini Financiers NCD March 2019 Detail

Issue OpenMar 18, 2019 - Apr 16, 2019
Security NameMuthoottu Mini Financiers Limited
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base)Rs 100.00 Crores
Issue Size (Shelf)Rs 100.00 Crores
Issue PriceRs 1000 per NCD
Face ValueRs 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE
Credit Rating'IND BBB-/Stable' by India Ratings & Research Private Limited
Tenor480 days/36 Months/60 Months
Series

Series 1 to Series 6

Payment FrequencyMonthly and Cumulative
Basis of AllotmentFirst Come First Serve Basis

NCD Allocation Ratio

NCD's allocated in each investor category:

Category ?NCD's Allocated
Category 1 (QIB)10%
Category 2 (NII)40%
Category 3 (HNI)%
Category 4 (RII)50%

NCD's Offered

NCD's offered in each investor category:

Category ?NCD's Reserved
Category 1 (QIB)100,000
Category 2 (NII)400,000
Category 3 (HNI)500,000
Category 4 (RII)
Total NCD's1,000,000

Coupon Rates

Coupon Rates for Each Series

  Series 1 Series 2 Series 3 Series 4 Series 5 Series 6
Frequency of Interest Payment Monthly Cumulative monthly Cumulative Monthly Cumulative
Tenor 480 days 480 days 36 months 36 months 60 months 60 months
Coupon Rate (Retail) 9.25% NA 9.75% NA 10.00% NA
Amount on Maturity ₹1,000 ₹1,131 ₹1,000 ₹1,339 ₹1,000 ₹1,645

NCD Rating Detail

The NCDs have been rated 'IND BBB-/Stable' by India Ratings & Research Private Limited for an amount of up to ` 20,000 lakhs. The rating of the NCDs indicates that instruments with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations. Such instruments carry moderate credit risk.

Company Promoters

The Promoters of our Company are Nizzy Mathew; and Mathew Muthoottu. They together hold 1,81,34,358 Equity Shares, representing 72.67% of the issued and paid-up capital of the Company.

Objects of the Issue:

The Objects of the NCD are-

1. Onward lending- At least 25%
2. Repayment of interest and principal of existing loans- At least 50%
3. General corporate purposes- Maximum of up to 25%

Muthoottu Mini Financiers NCD March 2019 Prospectus

Muthoottu Mini Financiers NCD March 2019 Rating

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Muthoottu Mini Financiers NCD March 2019 Reviews

Company Contact Information

Muthoottu Mini Financiers Limited
994, Muthoottu Buildings,
Kozhencherry,
Pathanamthitta - 689 641

Phone: +91 4682314391
Email: cs@minimuthoottu.com
Website: http://www.muthoottumini.com/

Muthoottu Mini Financiers NCD March 2019 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: mmfl.ncd2019@linkintime.co.in
Website: http://www.linkintime.co.in

Muthoottu Mini Financiers NCD March 2019 Lead Manager(s)

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