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Incorporated in 1998, Muthoottu Mini is an NBFC company (non-deposit) involved in the gold loan business lending money against the pledge of household gold jewelry. The company also have a microfinance loan segment wherein it provides unsecured loans to joint liability group of women customers who require funds to carry out their business activities through a few of their branches in the state of Kerala.
The company's Gold Loan portfolio as of Sep 31, 2020, comprises 3.95 lakhs loans aggregating to Rs 2,033 Cr. which is 97.41% of its total loans. The company has introduced an online gold loan product wherein the customer has to come to the branch only for the initial appraisal and subsequent disbursement is done online based on the customer's request during the maximum period of one year. The company also offers microfinance loans, unsecured loans to the joint liability group of women customers (minimum of 5 persons) who require funds to carry out their business activities. In addition to the loan business, the company also offers depository participant services, money transfer services, insurance broking services, PAN card related services, and travel agency services.
The company employs 3,205 persons and had a network of 809 branches as of Sep, 2021.
| Issue Open | December 1, 2021 - December 28, 2021 |
| Security Name | Muthoottu Mini Financiers Ltd |
| 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 | CARE BBB+ Stable (Triple B Plus; Outlook: Stable) by CARE Ratings Limited. |
| Tenor | 480 Days, 24, 36,48,66 Months |
| Series | Series I to Series 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 | 100,000 |
| Non-Institutional | 400,000 |
| Retail | 500,000 |
| Category 4 | 0 |
| Total NCD's | 1,000,000 |
| Tenure | 480 Days | 24 months | 24 months | 36 months | 48 months | 66 months |
|---|---|---|---|---|---|---|
| Nature | Secured | |||||
| Options | I | II | III | IV | V | VI |
| Frequency of Interest Payment | Monthly | Monthly | Cumulative | Cumulative | Monthly | Cumulative |
| Minimum Application | 10 NCDs (Rs 10,000) (across all options of NCDs) | |||||
| In multiples, of | 1 NCD after the minimum application | |||||
| Face Value of NCDs (Rs/NCD) | Rs 1,000 | |||||
| Issue Price (Rs /NCD) | Rs 1,000 | |||||
| Mode of Interest Payment/Redemption | Through various options available | |||||
| Coupon (%) per annum | 8.50% | 8.75% | NA | NA | 9.75% | NA |
| Effective Yield (%) (per annum) | 8.84% | 9.11% | 9.09% | 9.50% | 10.20% | 10.13% |
| Redemption Amount (Rs/NCD) | 1,000 | 1,000 | 1,190 | 1,313 | 1,000 | 1,700 |
| Coupon Type | Fixed | |||||
| Put and Call Option | Not Applicable | |||||
The issue has been rated ‘CARE BBB+’: Stable (‘Triple B Plus; Outlook: Stable’) by CARE Ratings Limited. Instruments with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations and carry moderate credit risk. .
Nizzy Mathew and Mathew Muthoottu are the promoters of the company.
| Particulars | For the year/period ended (₹ in Million) | ||||
|---|---|---|---|---|---|
| 31-Mar-21 | 31-Mar-20 | ||||
| Total Assets | 25,234.81 | 20,256.47 | |||
| Total Revenue | 3,682.54 | 3,131.53 | |||
| Profit After Tax | 319.11 | 335.42 | |||
The company proposes to utilise the funds for the following 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.
The Muthoottu Mini NCD November 2021 was subscribed 2.01 times on December 28, 2021 5:00:00 AM. The NCD subscribed 2.59 times in Retail, 1.80 times in Non-Institutional, and 0.00 times in the Institutional category.
| Category ? | Subscription (times) |
|---|---|
| Retail | 2.59x |
| Non-Institutional | 1.80x |
| Institutional | 0.00x |
| Total | 2.01x |
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Muthoottu Mini Financiers Ltd
2/994, Muthoottu Buildings,
Kozhencherry, Pathanamthitta – 689 641,
Kerala, India.
Phone: +91 468 231 4391
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: ncd3.mmfl2021@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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