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NCD Status: Closed [20th Apr 2022 to 17th May 2022]
Muthoottu Mini Financiers NCD of Rs. 125 Cr base issue size with an option to retain oversubscription of up to Rs. 125 Cr opens for subscription from 20 April to 17 May 2022. The company issues series I to VI secured and redeemable NCD at an issue size of Rs. 1000 per NCD. One can subscribe to the NCD with a minimum ticket size of Rs. 10,000 (10 NCDs), and the NCD tenor is 480 Days, 24, 36, 48 and 66 Months. Check more about the Muthoottu Mini Financiers NCD NCD Apr 2022 including credit rating, Coupon rates for each series, the basis of allotment, payment frequency, and more.
| NCD Opening Date: | 20th Apr 2022 |
| NCD Closing Date: | 17th May 2022 |
| NCD Type: | Secured NCD |
| Issue Size (Base): | Rs 125 Cr |
| Issue Size (Shelf): | Rs 125 Cr |
| Face Value: | Rs 1000 each NCD |
| Issue Price: | Rs 1000 per NCD |
| Market Lot: | 1 NCD |
| Min Order Qty: | 10 NCD |
| Min Order Amount: | Rs 10000 |
| Listing at: | BSE |
| Tenor: | 480 Days, 24, 36, 48 and 66 Months |
| Rating: | CARE BBB+ by CARE Ratings Limited |
| Series: | Series I to VI |
| Payment Frequency: | Monthly and Cumulative |
| Basis of Allotment: | First Come First Serve Basis |
| Interest on return: |
Zerodha Trade@20
| NCD Activity | Date |
|---|---|
| NCD Issue Open | 20th Apr 2022 |
| NCD Issue Close | 17th May 2022 |
* - Tentative Dates
| Category Name | NCD's Allocated |
|---|---|
| Institutional | 10% |
| Non-Institutional | 40% |
| Retail | 50% |
Muthoottu Mini Financiers, a part of Muthoottu Mini Group, is a non-deposit taking NBFC that particulars lends money against the pledge of household gold jewellery. Its gold loan customers mainly includes customers from rural and semi-urban areas. It lends gold loan from 30 days to 365 days of tenure at varied interest rates. It further offers microfinance or unsecured loans to a group of minimum 5 women customers to carry out their business activities.
In addition to the lending business, it also offer depository participant services, money transfer services, insurance agent services, PAN card services, and travel agency services. As on December 31, 2021, it has a network of 804 branches in the state of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Gujarat, Delhi and Goa and the union territory of Puducherry.
Strengths
| Muthoottu Mini Financiers Financials (₹ in Cr) | 31-Mar-2021 | 31-Mar-2020 |
|---|---|---|
| Total Assets | ₹2,52,348.05 | ₹2,02,564.73 |
| Total Income | ₹36,825.38 | ₹31,315.27 |
| Net Profit/Loss | ₹3,191.14 | ₹3,354.18 |
The company aims to utilize the net proceeds from NCD towards the following;
| Tenure | 480 days | 24 months | 24 months | 36 months | 48 months | 66 months |
| Options | I | II | III | IV | V | VI |
|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Cumulative | Cumulative | Monthly | Cumulative |
| Coupon Rate % Per Annum | 8.00% | 8.50% | NA | NA | 9.50% | NA |
| Effective Yield (% per annum) | 8.30% | 8.84% | 8.90% | 9.25% | 9.92% | 10.00% |
| Amount on Maturity for NCD holders | ₹1,000 | ₹1,000 | ₹1,186 | ₹1,304 | ₹1,000 | ₹1,689 |
Nizzy Mathew is the promoter of the company.
The NCD instruments has been rated CARE BBB+ by Care Ratings Ltd that indicates moderate degree of safety as well as risk regarding timely servicing of financial obligations.
Last Updated on 2022-10-06T00:59:06+00:00
