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| Issue Size (Base) | Rs 125 Cr |
| Issue Size (Shelf) | Rs 125 Cr |
| Face Value | ₹1000 each NCD |
| Issue Price | ₹1000 per NCD |
| Market Lot | 1 NCD |
| Min Order Qty | 10 NCD |
| Min Order Amount | ₹10000 |
| Listing at | BSE |
| Tenor | 480 Days, 24, 36, 48 and 66 Months |
| Credit 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 |
| 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 |
Nizzy Mathew is the promoter of the company.
The company aims to utilize the net proceeds from NCD towards the following;
| # | Issue Objects |
|---|---|
| 1 | For the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on borrowings of the Company; and |
| 2 | Meet general corporate purposes. |
| 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 |
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.
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
