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Incorporated in 1998, Kerala based Muthoottu Mini Financiers Limited is a non-deposit taking systemically important NBFC. The company is engaged in the gold loan sector lending money against gold jewelry ('Gold Loans'). It operates in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Delhi and Goa and the union territory of Puducherry.
The company has recently started microfinance lending wherein it provides unsecured loans to joint liability group of women customers (minimum of 5 persons) who need funds to carry out their business. In addition to loans, it also offers depository participant services, money transfer services, insurance, and travel services.
The Gold Loan portfolio of the company as on September 30, 2018, March 31, 2018, March 31, 2017 and March 31, 2016, were Rs 1,51,188.44 lakhs, Rs 1,55,432.83 lakhs, Rs 1,94,000.29 lakhs and Rs 1,90,555.97 lakhs. The gold loan accounts for over 95% of the total loans for these periods. The yield on Gold Loan assets was 18.69%, 18.18%, 22.20%, and 20.95%, for September 30, 2018, March 31, 2018, March 31, 2017, and March 31, 2016, respectively.
The microfinance loan portfolio as on September 30, 2018, March 31, 2018, and March 31, 2017, were Rs 5,384.83 lakhs, Rs 7,240.57 lakhs and Rs 1,329.45 lakhs accounting for 3.43%, 4.44% and 0.68% of the total loans and advances of the company.
The company has 767 branches and employs 2,905 persons in our business operations.
| Issue Open | March 18, 2019 - April 16, 2019 |
| Security Name | Muthoottu Mini Financiers Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Shelf) | Rs 100.00 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 | IND BBB-/Stable |
| Tenor | 480 days/36 Months/60 Months |
| Series | Series 1 to Series 6 |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
Category  |
NCD's Allocated |
|---|---|
| Category 1 | 10% |
| Category 2 | 40% |
| Category 3 | 0% |
| Category 4 | 50% |
| Category |
NCD's Reserved |
|---|---|
| Category 1 | 100,000 |
| Category 2 | 400,000 |
| Category 3 | 500,000 |
| Category 4 | 0 |
| Total NCD's | 1,000,000 |
| Series 1 | Series 2 | Series 3 | Series 4 | Series 5 | Series 6 | |
|---|---|---|---|---|---|---|
| Frequency of Interest Payment | Monthly | Cumulative | monthly | Cumulative | Monthly | Cumulative |
| Tenor | 480 days | 480 days | 36 months | 36 months | 60 months | 60 months |
| Coupon Rate (Retail) | 9.25% | NA | 9.75% | NA | 10.00% | NA |
| Amount on Maturity | Rs 1,000 | Rs 1,131 | Rs 1,000 | Rs 1,339 | Rs 1,000 | Rs 1,645 |
The NCDs have been rated 'IND BBB-/Stable' by India Ratings & Research Private Limited for an amount of up to ` 20,000 lakhs. The rating of the NCDs indicates that instruments with this rating are considered to have a moderate degree of safety regarding timely servicing of financial obligations. Such instruments carry moderate credit risk.
The Promoters of our Company are Nizzy Mathew; and Mathew Muthoottu. They together hold 1,81,34,358 Equity Shares, representing 72.67% of the issued and paid-up capital of the Company.
The Objects of the NCD are-
1. Onward lending- At least 25%
2. Repayment of interest and principal of existing loans- At least 50%
3. General corporate purposes- Maximum of up to 25%
The Muthoottu Mini Financiers NCD March 2019 was subscribed 1.48 times on April 16, 2019 5:00:00 PM. The NCD subscribed .
| Category ? | Subscription (times) |
|---|---|
| Category 3 | 2.07x |
| Category 2 (NII) | 1.10x |
| Category 1 (QIB) | 0.08x |
| Total | 1.48x |
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Muthoottu Mini Financiers Limited
994, Muthoottu Buildings,
Kozhencherry,
Pathanamthitta - 689 641
Phone: +91 4682314391
Email: cs@minimuthoottu.com
Website: http://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: mmfl.ncd2019@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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