₹150.00 Cr| Listing at BSE | Wed, Oct 30, 2024 - Wed, Nov 13, 2024
Muthoottu Mini Financiers Ltd. NCD issue is a public issue of secured, redeemable, non-convertible debenture with a base issue size of ₹100.00 Cr and an option to retain oversubscription up to ₹50.00 Cr, aggregating to a total issue size of ₹150.00 Cr. The NCDs are offered at a face value ₹1000 each and an issue price of ₹1000 per NCD.
Muthoottu Mini Financiers Ltd. NCD issue opens on Oct 30, 2024 and closes on Nov 13, 2024. NCD are proposed to be listed on BSE.
The minimum lot size is 10 NCDs, requiring a minimum investment of ₹ 10,000 , while the market lot for trading is 1 NCD.
The issue offers interest rates ranging from 8.50% per annum to 10.00% per annum, depending on the series and tenure selected.
The NCD has been rated: .
Vivro Financial Services Pvt.Ltd. is the Lead Manager to the issue, Mitcon Credentia Trusteeship Services Ltd. is the Debenture Trustee, and MUFG Intime India Pvt.Ltd. is the Registrar to the Issue.
Investors are advised to refer to the NCD Offer Document for detailed information on risk factors, financials, and the terms of the issue.
Open Date
Wed, Oct 30, 2024
Close Date
Wed, Nov 13, 2024
Issue Size (Overall)
₹150.00 Cr
Muthoottu Mini Financiers Limited NCD Coupon Rates
| # | Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | Series 7 |
|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Cumulative | Monthly | Cumulative | Monthly | Cumulative |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 450 Days | 26 Months | 26 Months | 36 Months | 36 Months | 48 Months | 66 Months |
| Coupon (% per Annum) | 8.5% | 9% | NA | 9.5% | NA | 10% | NA |
| Effective Yield (% per Annum) | 8.84% | 9.38% | 9.4% | 9.92% | 9.75% | 10.47% | 10.5% |
| Amount on Maturity (In Rs.) | Rs 1,000 | Rs 1,000 | Rs 1,215 | Rs 1,000 | Rs 1,322 | Rs 1,000 | Rs 1,732 |
Muthoottu Mini Financiers Limited's revenue increased by 23.4% and profit after tax (PAT) rose by 15.68% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 4,315.57 | 3,858.12 | 3,230.80 |
| Revenue | 671.84 | 544.44 | 430.25 |
| Profit After Tax | 77.83 | 67.28 | 46.29 |
| Net Worth | 685.78 | 607.02 | 540.08 |
| Amount in ₹ Crore | |||
Nizzy Mathew and Mathew Muthoottu are the promoters of the company.
| Category | Allocated (%) |
|---|---|
| Institutional | 10.00% |
| Non-Institutional | 40.00% |
| Retail | 50.00% |
| Total | 100.00% |
Muthoottu Mini Financiers Limited is a non-deposit taking NBFC-ML in the gold loan sector lending money against pledge of household gold ornaments (gold loans) in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Gujarat, Delhi, Uttar Pradesh and Goa and in the Union Territory of Puducherry.
The company also has a microfinance segment where it provides unsecured loans to a group of women with joint liability (minimum 5 persons) who need funds for their business activities.
As of September 30, 2024, the Company had a network of 920 branches in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Gujarat, Delhi, Uttar Pradesh and Goa and the Union Territory of Puducherry and employed 4,672 people.
The Company proposes to utilize the funds which are being raised through the Issue, after deducting the Issue-related expenses to the extent payable by the Company (“Net Proceeds”), estimated to be approximately Rs. 14,769.63 lakh, towards funding the following objects (collectively, referred to herein as the “Objects”):
[Dilip Davda] This is a frequent debt market visitor company bringing its 18th offer since February 2014 and has changed its LM, Rating Agency, Trustee in the past. For this issue it has hiked the coupon rates with improved credit rating. Investors looking for steady income may park moderate funds as per their appetite. Read detail review...
The Muthoottu Mini Financiers NCD October 2024 was subscribed 1.29 times on Nov 13, 2024 17:00. The NCD subscribed 1.36 times in Retail, 0.91 times in Non-Institutional, and 2.51 times in Institutional category.
Muthoottu Mini Financiers Ltd.
65/623-K,
Muthoottu Royal Towers,
Kaloor, Kochi, Kerala - 682 017
Eral, Tamil Nadu, 682017
NSE and BSE offer NSEgoBid and BSEDirect apps/websites through which retail investors can apply for NCDs up to Rs 5 lakhs. Not all brokers and banks provide the facility to apply for NCD online.
To apply for an NCD online, the investor should fill in the NCD bid details online and provide the details of the DP and bank accounts (ASBA/UPI) as requested. In the case of a UPI application, the investor needs to approve the UPI mandate to complete the application process.
Steps to invest in NCD IPO through GoldenPi
Retail investors can apply for an IPO online if the investment amount is less than or up to 10 lakhs.
Steps to apply for NCD IPO with Indiabonds:
You can buy or invest in NCD IPOs through the following intermediaries:
The investor can apply for the NCD IPO online through NCD intermediaries such as a registered stockbroker, provided the broker offers an online application for the NCD IPO. Not many brokers allow you to invest in an NCD IPO online. Currently, very few brokers, such as Nuvama Wealth, Angel One, and SBI Securities, offer the facility to apply for NCD IPOs electronically. You should check with your broker or intermediary to see if the online application facility for the NCD IPO is available through them.
Refer to the detailed guidelines on NSEgoBID and BSEDirect for information on the registration process and how to apply for NCDs through the exchange.
Important links :
Read more about NCD Application Process.
The minimum amount required for NCD investment is Rs. 10,000.
Generally, the minimum lot size of NCD is 10, and the face value is 1,000.
NCD allotment can be checked on the BSE website or with the Registrar once the allotment has been made.
Steps to check the NCD allotment status at the BSE:
Alternatively, the applicant can also check the allotment status on the respective website of the Registrar for the issue. The applicant will need their PAN details or the applicant's Aadhaar number to check the status.
Generally, all applicants receive full allotment due to the retention of the oversubscription option.
Read more information on NCD Subscription and NCD Allotment Process.
No, you cannot withdraw or redeem Muthoottu Mini Financiers Ltd. NCDs before maturity directly from the company. However, there are a couple of options available if you want to exit early:
If the NCDs are listed on stock exchanges (like BSE/NSE), you can:
Only possible if a "call option" exists.
Read more about NCD Subscription and Allotment Process
Bid Cancellation and Withdrawal Policy for NCD Applicants
Note:
The specific process and conditions for post-closure cancellation vary by issuer. Applicants should refer to the Offer Document for issuer-specific guidelines.
