Loading...
Guest User
Welcome! Please login.
| Issue Size (Base) | ₹100.00 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 | 450 Days, 26, 36, 48, and 66 Months |
| Credit Rating | CARE A-Stable by CARE Ratings Limited. |
| Series | Series I to VII |
| Payment Frequency | Monthly and Cumulative |
Muthoottu Mini Financiers Limited's revenue increased by 23.4% and profit after tax (PAT) rose by 15.68% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 4,315.57 | 3,858.12 | 3,230.80 |
| Revenue | 671.84 | 544.44 | 430.25 |
| Profit After Tax | 77.83 | 67.28 | 46.29 |
| Net Worth | 685.78 | 607.02 | 540.08 |
| Amount in ₹ Crore | |||
Nizzy Mathew and Mathew Muthoottu are the promoters of the company.
The Company proposes to utilize the funds which are being raised through the Issue, after deducting the Issue-related expenses to the extent payable by the Company (“Net Proceeds”), estimated to be approximately Rs. 14,769.63 lakh, towards funding the following objects (collectively, referred to herein as the “Objects”):
| # | 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 | General corporate purposes. |
| 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 |
| Nature | Secured | Secured | Secured | Secured | Secured | Secured | Secured |
| Tenor | 450 Days | 26 Months | 26 Months | 36 Months | 36 Months | 48 Months | 66 Months |
| Coupon (% per Annum) | 8.5% | 9% | NA | 9.5% | NA | 10% | NA |
| Effective Yield (% per Annum) | 8.84% | 9.38% | 9.4% | 9.92% | 9.75% | 10.47% | 10.5% |
| Amount on Maturity (In Rs.) | Rs 1,000 | Rs 1,000 | Rs 1,215 | Rs 1,000 | Rs 1,322 | Rs 1,000 | Rs 1,732 |
The NCDs proposed to be issued under the Issue have been rated CARE A-Stable (pronounced as Single A Minus with Stable outlook) by CARE Ratings Limited (CARE Ratings).
Muthoottu Mini Financiers Limited was founded in March 1998. The company is a non-deposit taking, systemically important NBFC in the gold lending business, which lends money against pledge of household gold ornaments (“gold loans") in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Gujarat, Delhi and Goa and the Union Territory of Puducherry.
The Company also has a microfinance segment where it provides unsecured loans to women customers with joint and several liability (minimum 5 persons) who require funds for running their businesses through some of its branches in the state of Kerala.
As of December 31, 2021, the Company had a network of 804 branches in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Gujarat, Delhi and Goa and the Union Territory of Puducherry and employed 3595 people in its operations.
