Chittorgarh.com Logo
FREE Account Opening + No Clearing Fees + Rs 999 API Access
Loading...

Muthoottu Mini Financiers Ltd NCD (Muthoottu Mini NCD June 2020) Detail

Jun 3, 2020 - Jun 26, 2020
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 on Sep 30, 2019, March 31, 2019, March 31, 2018, and March 31, 2017 were Rs 1,62,169.07 lakhs, Rs 1,35,012.97 lakhs, 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 119.17%, 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 3,141 persons in its business operations.

Muthoottu Mini NCD June 2020 Detail

Issue Open Jun 3, 2020 - Jun 26, 2020
Security Name Muthoottu Mini Financiers Ltd
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 100.00 Crores
Issue Size (Shelf) Rs 200.00 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 24/ 36/ 50/ 60/ 85 months/ 480 days
Series

Series I to Series VII

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

NCD Allocation Ratio

Category ? NCD's Allocated
Category 1 0%
Category 2 0%
Category 3 0%
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 Eash Series

  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
Tenor 480 days 24 Months 24 Months 36 Months 50 Months 60 Months 85 Months
Coupon Rate (Retail) 9.50% 9.75% NA 10.00% NA 10.50% NA
Amount on Maturity Rs 1,000 Rs 1,000 Rs 1,205 Rs 1,000 Rs 1,500 Rs 1,000 Rs 2,000

NCD Rating

The NCDs proposed to be issued under this Issue have been rated 'CARE BBB-; Stable' (Triple B Minus; Outlook: Stable) by CARE Ratings Limited for an amount of up to ?20,000 lakhs vide its letter dated March 12, 2020. 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 for the following objects:

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

Muthoottu Mini NCD June 2020 Prospectus

Muthoottu Mini NCD June 2020 Rating

20
2.8
Rating:Rated 2.8 stars
Vote Here ...

Muthoottu Mini NCD June 2020 Reviews

Company Contact Information

Muthoottu Mini Financiers Ltd
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 NCD June 2020 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: ncd3.mmfl2019@linkintime.co.in
Website: https://linkintime.co.in/

Muthoottu Mini NCD June 2020 Lead Manager(s)