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

Mar 18, 2019 - Apr 16, 2019
Muthoottu Mini Financiers Limited Logo

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 Open Mar 18, 2019 - Apr 16, 2019
Security Name Muthoottu Mini Financiers Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 100.00 Crores
Issue Size (Shelf) Rs 100.00 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-/Stable
Tenor 480 days/36 Months/60 Months

Series 1 to Series 6

Payment Frequency Monthly and Cumulative
Basis of Allotment First Come First Serve Basis

NCD Allocation Ratio

Category ? NCD's Allocated
Category 1 10%
Category 2 40%
Category 3 0%
Category 4 50%

NCD's Offered by Category

Category ? NCD's Reserved
Category 1 100,000
Category 2 400,000
Category 3 500,000
Category 4 0
Total NCD's 1,000,000

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 Rs 1,000 Rs 1,131 Rs 1,000 Rs 1,339 Rs 1,000 Rs 1,645

NCD Rating

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 Subscription Status

The Muthoottu Mini Financiers NCD March 2019 was subscribed 1.48 times on Apr 16, 2019 5:00:00 PM. The NCD subscribed .

Category ?Subscription (times)
Category 32.07x
Category 2 (NII)1.10x
Category 1 (QIB)0.08x

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Company Contact Information

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

Phone: +91 4682314391

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

Muthoottu Mini Financiers NCD March 2019 Lead Manager(s)