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Muthoottu Mini Financiers Ltd NCD (Muthoottu Mini NCD July 2019) Detail

August 7, 2019 - September 5, 2019
Muthoottu Mini Financiers Ltd 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 onMarch 31, 2019, March 31, 2018, and March 31, 2017 were Rs 1,35,012.97, Rs 1,55,432.83 lakhs, Rs 1,94,000.29 lakhs and Rs 1,90,555.97 lakhs, respectively. The yield on Gold Loan assets was 1 19.17%,
18.18% and 22.20%, for March 31, 2019, March 31, 2018 and March 31, 2017, respectively.

The microfinance loan portfolio as on March 31, 2019 March 31, 2018, and March 31, 2017, were Rs 3,215.18, Rs 7,240.57 and Rs 1,329.45 lakhs accounting for 2.32%, 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 its business operations.

Muthoottu Mini NCD July 2019 Detail

Issue Open August 7, 2019 - September 5, 2019
Security Name Muthoottu Mini Financiers Ltd
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 1,000.00 Crores
Issue Size (Shelf) Rs 500.00 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 CARE BBB/Stable
Tenor 480 days/24 months/36 months/60 months

Series I to Series VIII

Payment Frequency Monthly, Annual 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 50%
Category 4 0%

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 series 1 to 8

Series 1 Series 2 Series 3 Series 4 Series 5 Series 6 Series 7 Series 8
Frequency of Interest Payment Cumulative Monthly Monthly Annual Cumulative Monthly Annual Cumulative
Nature Secured
Tenor 480 days 24 months 36 months 60 months
Coupon Rate For Category I & II NA 10.00% 10.25% 10.50% NA 10.35% 10.65% NA
Amount on Maturity For Category I & II/ for III & IV Rs 1,132 Rs 1,000 Rs 1,000 Rs 1,000 Rs 1,340 Rs 1,000 Rs 1,000 Rs 1,636

NCD Rating

The NCDs proposed to be issued under this Issue have been rated 'CARE BBB-; Stable' by CARE Ratings Limited for an amount of up to Rs 15,000 lakhs vide its letter dated July 1, 2019. The rating of the NCDs by CARE Ratings Limited indicate that instruments with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations and carry moderate credit risk.

Company Promoters

Nizzy Mathew and Mathew Muthoottu are the promoters of the company.

Objects of the Issue

The company proposes to utilise 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 15,000 lakhs, towards funding the following objects:

1. Onward lending;
2. Repayment of interest and principal of existing loans; and
3. General corporate purposes.

Muthoottu Mini NCD July 2019 Prospectus

Muthoottu Mini NCD July 2019 Subscription Status

The Muthoottu Mini NCD July 2019 was subscribed 1.48 times on September 5, 2019 5:00:00 PM. The NCD subscribed .

Category ?Subscription (times)
Category 31.97x
Category 2 (NII)1.23x
Category 1 (QIB)0.00x

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Company Contact Information

Muthoottu Mini Financiers Ltd
2/994, Muthoottu Buildings,
Kozhencherry, Pathanamthitta - 689 641,
Kerala, India

Phone: +91 468 231 4391

Muthoottu Mini NCD July 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 NCD July 2019 Lead Manager(s)

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