Muthoottu Mini NCD / Bonds Dates, Size, Allotment, Subscription, DRHP & more
Last Updated Date: Nov 19, 2022Let’s have a detailed review of the company and analytics of the Muthoottu Mini Financiers Ltd NCD release date, NCD issue size, subscription, Muthoottu Mini NCD allotment, and other details like the company’s background, its financial positions, its promoters, and other related things.
Muthoottu Mini Financiers Ltd NCD – Sep 2021 Detail
| Credit Rating | CARE BBB+/Stable |
| Issue Open | Sep 30, 2021 |
| Issue Close | Oct 26, 2021 |
| Base Size | Rs 200.00 Crores |
| Shelf Size | 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 |
| Tenor | 27, 38, 60, 72, and 87 Months |
| Series | Series I to Series X |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
Muthoottu Mini Financiers Ltd NCD – Basis of the Offer Price
| ISSUE STRUCTURE | |
| Security Name | Muthoottu Mini Financiers Ltd |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Coupon payment frequency | Monthly and Cumulative |
| Coupon type | Fixed |
| Tenor | 27, 38, 60, 72, and 87 Months |
| Depository | NSDL and CDSL |
| Disbursement | SEBI Debt Regulations |
| Debenture Trustee | MITCON TRUSTEESHIP SERVICES LIMITED |
Muthoottu Mini NCD Dates
The opening and the closing date of Muthoottu Mini Financiers Ltd NCD is Sep 30, 2021, to Oct 26, 2021.
Muthoottu Mini NCD Subscription
| Day / Date | QIB Category 1 | NII Category 2 | HNI Category 3 | RII Category 4 | Total Subscription |
| 1st – 10th Day: till 10th Oct | |||||
| 10th – 20th Day: till 20th Oct |
|||||
| 20th – 26th Day: till 26th Oct | |||||
| Shares Offered or Net Issue |
The shares subscribed by the public will be updated here.
Muthoottu Mini Financiers Ltd NCD Allotment Status
Here, you can find the Allotment Status of this NCD.
Muthoottu Mini Financiers Ltd NCD Share Offering
Public issue by our Company of NCDs aggregating up to Rs.10,000 lakhs, with an option to retain over-subscription up to Rs.5,000 lakhs, aggregating up to Rs.15,000 lakhs, on the terms and in the manner set forth herein
Muthoottu Mini NCD Allocation Ratio
| NCD Allocation Ratio | |
| Category | NCD’s Allocated |
| QIB – Category 1 | 5% |
| Corporate – Category 2 | 40% |
| HNI – Category 3 | 55% |
| RII – Category 4 | 0% |
Muthoottu Mini Financiers Ltd NCD’s Offered
| NCD’s Offered | |
| Category | NCD’s Reserved |
| QIB – Category 1 | 100,000 |
| NII – Category 2 | 800,000 |
| HNI – Category 3 | 1,100,000 |
| RII – Category 4 | 0 |
| Total NCD’s | 2,000,000 |
Muthoottu Mini NCD Coupon Rates
| Tenure | 27 Months | 38 Months | 60 Months | 72 Months | 87 Months | 27 Months | 38 Months | 60 Months | 87 Months |
| Nature | Secured | ||||||||
| Options | I | II | III | IV | V | VI | VII | VIII | IX |
| Frequency of Interest Payment |
Monthly | Monthly | Monthly | Monthly | Monthly | Cumulative | Cumulative | Cumulative | Cumulative |
| Minimum Application | 10 NCDs (Rs 10,000) (across all options of NCDs) | ||||||||
| In multiples, of | 1 NCD after the minimum application | ||||||||
| Face Value of NCDs (Rs. /NCD) | Rs. 1,000 | ||||||||
| Issue Price (Rs. /NCD) | Rs. 1,000 | ||||||||
| Mode of Interest Payment/ Redemption |
Through various options available | ||||||||
| Coupon (%) per annum* | 8.255 | 8.50% | 8.75% | 9.50% | 9.75% | NA | NA | NA | NA |
| Coupon Type | Fixed | ||||||||
| Redemption Amount (Rs. /NCD) for Debenture Holders* |
1,000 | 1,000 | 1,000 | *1,000 | 1,000 | 1,203 | 1,307 | 1,546 | 2,022 |
| Effective Yield (%)(per annum)* |
8.57% | 8.84% | 9.10% | 9.92% | 10.20% | 8.58% | 8.83% | 9.10% | 10.19% |
| Put and Call Option | Not applicable | ||||||||
Muthoottu Mini Financiers Ltd NCD Issue Object
- For the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on borrowings of the Company; and
- General corporate purposes.
Muthoottu Mini Financiers Limited – Company Overview
We are a non-deposit taking systemically important NBFC in the gold loan sector lending money against the pledge of household gold jewellery (“Gold Loans”) in the state of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Gujarat, Delhi and Goa and the union territory of Puducherry. We also have a microfinance loan segment wherein we provide unsecured loans to a joint liability group of women customers (minimum of 5 persons) who require funds to carry out their business activities through a few of our branches in the state of Kerala.
Our Gold Loan portfolio as on September 30, 2021, March 31, 2021, March 31, 2020, and March 31, 2019 comprises of 3,95,175, 3,86,110, 4,37,182, and 3,75,665 Gold Loan accounts respectively, aggregating to Rs 2,03,305.67 lakhs, Rs 1,93,510.34 lakhs, Rs 1,64,480.28 lakhs and, Rs 1,35,012.97 lakhs which is 97.41 %, 97.04%, 97.26%, and 97.50% of our total loans and advances as on such specific dates.
We, as on September 30, 2021, had a network of 809 branches spread in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Gujarat, Delhi, and Goa and the union territory of Puducherry and we employ 3205 persons in our business operations.
Muthoottu Mini Financiers Ltd NCD Lead Managers
| Lead Managers |
| VIVRO FINANCIAL SERVICES PRIVATE LIMITED 607/608 Marathon Icon, Opp. Peninsula Corporate Park Off. Ganpatrao Kadam Marg, Veer Santaji Lane, Lower Parel, Mumbai – 400 013, Maharashtra, India Telephone: +91 22 6666 8040/41/42 Facsimile: +91 22 6666 8047 Email: mmfl@vivro.net Website: www.vivro.net Investor Grievance Email: investors@vivro.net Contact Person: Jayesh Vithlani |
Muthoottu Mini NCD Debenture Trustee
| Debenture Trustee |
| MITCON TRUSTEESHIP SERVICES LIMITED 1402/1403, B-Wing, 14th Floor, Dalamal Towers, Free Press Journal Marg, 211, Nariman Point, Mumbai – 400 021. Telephone: +91 22 2282 8200 Email: mitcontrustee@mitconindia.com Website: www.mitcontrustee.com Investor Grievance Email: trusteeinvestors@mitconindia.com Contact Person: Vaishali Urkude |
Muthoottu Mini NCD Registrar to offer
| Registrar to the Offer |
| LINK INTIME INDIA PRIVATE LIMITED C-101, 1st Floor, 247 Park L.B.S. Marg, Vikhroli West Mumbai – 400 083, Maharashtra, India Telephone: +91 22 4918 6200 Facsimile: +91 22 4918 6060 Email: ncd3.mmfl2021@linkintime.co.in Website: www.linkintime.co.in Investor Grievance Email: ncd3.mmfl2021@linkintime.co.in Contact Person: Shanti Gopalkrishnan |
Muthoottu Mini Financiers Ltd NCD Ratings
Our Company has received rating of ‘CARE BBB+’: Stable (‘Triple B Plus; Outlook: Stable) by CARE Ratings Limited (“CARE Ratings”) vide its letter dated August 23, 2021, and revalidated vide letter dated November 12, 2021, for the NCDs proposed to be issued pursuant to this Issue.
The rating of the NCDs by CARE Ratings indicates that instruments with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations and carry moderate credit risk. The ratings provided by CARE Ratings may be suspended, withdrawn, or revised at any time by the assigning rating agency and should be evaluated independently of any other rating.
These ratings are not a recommendation to buy, sell or hold securities and Investors should take their own decisions. Please refer to Annexure-II on page 360 for the rationale for the above rating.
Muthoottu Mini Financiers Ltd NCD News
News 1 – RHP Prospectus [Download]
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