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Muthoottu Mini Financiers Limited is a non-deposit taking NBFC-ML in the gold loan sector lending money against pledge of household gold ornaments (gold loans) in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Gujarat, Delhi, Uttar Pradesh and Goa and in the Union Territory of Puducherry.
The company also has a microfinance segment where it provides unsecured loans to a group of women with joint liability (minimum 5 persons) who need funds for their business activities.
As of September 30, 2024, the Company had a network of 920 branches in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Gujarat, Delhi, Uttar Pradesh and Goa and the Union Territory of Puducherry and employed 4,672 people.
| Issue Open | October 30, 2024 - November 13, 2024 |
| Security Name | Muthoottu Mini Financiers Limited |
| Security Type | Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) |
| Issue Size (Base) | Rs 100.00 Crores |
| Issue Size (Oversubscription) | Rs 50.00 Crores |
| Overall Issue Size | Rs 150.00 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 A-Stable by CARE Ratings Limited. |
| Tenor | 450 Days, 26, 36, 48, and 66 Months |
| Series | Series I to VII |
| Payment Frequency | Monthly and Cumulative |
| Basis of Allotment | First Come First Serve Basis |
| Debenture Trustee/s | Mitcon Credentia Trusteeship Services Limited |
Category  |
NCD's Allocated |
|---|---|
| Institutional | 10% |
| Non-Institutional | 40% |
| Retail | 50% |
Muthoottu Mini Financiers Limited NCD Coupon Rates
| # | 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).
Nizzy Mathew and Mathew Muthoottu are the promoters of the company.
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 | |||
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”):
The Muthoottu Mini Financiers NCD October 2024 was subscribed 1.29 times on November 13, 2024 5:00:00 PM. The NCD subscribed 1.36 times in Retail, 0.91 times in Non-Institutional, and 2.51 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 1.36x |
| Non-Institutional | 0.91x |
| Institutional | 2.51x |
| Total | 1.29x |
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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: ks.smitha@muthoottumini.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: muthoottumini.ncd2024@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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