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Muthoottu Mini Financiers Limited, is an RBI registered Non-Banking Financial Company (NBFC) in the gold loan industry lending money in exchange for gold jewellery pledged by customers. The Company offers gold loans, fixed deposits, microfinance, money transfer service schemes, online gold loans, insurance and banking solutions. The company has a presence in Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Gujarat, Delhi and Goa and the union territory of Puducherry.
Muthoottu Mini Financiers Limited is a Flag Ship Company of the M Mathew Muthoottu Group.
The company has 4,22,073 Gold Loan accounts and a network of 804 branches as of December 31, 2021. The company's 61% of branches i.e. 490 branches are in rural and semi-urban areas in South India.
| Issue Open | April 20, 2022 - May 17, 2022 |
| Security Name | Muthoottu Mini Financiers Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 125.00 Crores |
| Issue Size (Shelf) | Rs 125.00 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 |
| Credit Rating | CARE BBB+ by CARE Ratings Limited |
| Tenor | 480 Days, 24, 36, 48 and 66 Months |
| Series | Series I to VI |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 10% |
| Non-Institutional | 40% |
| Retail | 50% |
| Category |
NCD's Reserved |
|---|---|
| Institutional | 125,000 |
| Non-Institutional | 500,000 |
| Retail | 625,000 |
| Category 4 | 0 |
| Total NCD's | 1,250,000 |
Coupon Rates
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | |||
|---|---|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Monthly | Cumulative | Cumulative | Monthly | Cumulative | ||
| Nature | Secured | |||||||
| Tenor | 480 Days | 24 months | 24 months | 36 months | 48 months | 66 months | ||
| Coupon Rate | 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 | Rs 1,000 | Rs 1,000 | Rs 1,186 | Rs 1,304 | Rs 1,000 | Rs 1,689 | ||
The NCDs proposed to be issued under the Issue have been rated as CARE BBB+ Stable Outlook by CARE Ratings Limited. The instrument with such a rating is expected to have a moderate degree of safety.
Nizzy Mathew and Mathew Muthoottu are the company promoters.
| Particulars | For the year/period ended (Rs in Lakhs) | ||||
|---|---|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | ||||
| Total Assets | 2,52,348.05 | 2,02,564.73 | |||
| Total Revenue | 36,825.38 | 31,315.27 | |||
| Profit After Tax | 3,191.14 | 3,354.18 | |||
The company proposes to utilise the funds which are being raised through the Issue:
The Muthoottu Mini Financiers NCD April 2022 was subscribed 2.25 times on May 17, 2022 1:00:00 AM. The NCD subscribed 2.68 times in Retail, 2.27 times in Non-Institutional, and 0.01 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 2.68x |
| Non-Institutional | 2.27x |
| Institutional | 0.01x |
| Total | 2.25x |
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Muthoottu Mini Financiers Limited
65/623-K,
Muthoottu Royal Towers,
Kaloor, Kochi, Kerala – 682 017
Phone: +91 484 291 2100
Email: cs@minimuthoottu.com
Website: https://www.muthoottumini.com/
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai - 400083
Phone: +91-22-4918 6270
Email: mmfl2022.ncd1@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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