Let’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 RatingCARE BBB+/Stable
Issue OpenSep 30, 2021
Issue CloseOct 26, 2021
Base SizeRs 200.00 Crores
Shelf SizeRs 200.00 Crores
Issue PriceRs 1000 per NCD
Face ValueRs 1000 each NCD
Minimum Lot size10 NCD
Market Lot1 NCD
Listing AtBSE
Tenor27, 38, 60, 72, and 87 Months
SeriesSeries I to Series X
Payment FrequencyMonthly and Cumulative
Basis of AllotmentFirst Come First Serve Basis

Muthoottu Mini Financiers Ltd NCD – Basis of the Offer Price

ISSUE STRUCTURE
Security NameMuthoottu Mini Financiers Ltd
Security TypeSecured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Coupon payment frequencyMonthly and Cumulative
Coupon typeFixed
Tenor27, 38, 60, 72, and 87 Months
DepositoryNSDL and CDSL
DisbursementSEBI Debt Regulations
Debenture TrusteeMITCON 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 / DateQIB Category 1NII Category 2HNI Category 3RII Category 4Total 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
CategoryNCD’s Allocated
QIB – Category 15%
Corporate – Category 240%
HNI – Category 355%
RII – Category 40%

Muthoottu Mini Financiers Ltd NCD’s Offered

NCD’s Offered
CategoryNCD’s Reserved
QIB – Category 1100,000
NII – Category 2800,000
HNI – Category 31,100,000
RII – Category 40
Total NCD’s2,000,000

Muthoottu Mini NCD Coupon Rates

Tenure27 Months38 Months60 Months72 Months87 Months27 Months38 Months60 Months87 Months
NatureSecured
OptionsIIIIIIIVVIVIIVIIIIX
Frequency of Interest
Payment
MonthlyMonthlyMonthlyMonthlyMonthlyCumulativeCumulativeCumulativeCumulative
Minimum Application10 NCDs (Rs 10,000) (across all options of NCDs)
In multiples, of1 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*8.2558.50%8.75%9.50%9.75%NANANANA
Coupon TypeFixed
Redemption Amount (Rs.
/NCD) for Debenture
Holders*
1,0001,0001,000*1,0001,0001,2031,3071,5462,022
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 OptionNot applicable

Muthoottu Mini Financiers Ltd NCD Issue Object

  1. For the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on borrowings of the Company; and
  2. General corporate purposes.

Muthoottu Mini Financiers Limited – Company Overview

Muthoottu Mini Financiers Limited NCDWe 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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