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Incorporate 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's Gold Loan portfolio as on March 31, 2020, comprises 4.37 lakhs loans aggregating to Rs 1645 Cr. which is 97.26% 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 3,109 persons and had a network of 785 branches as of June 30, 2020.
| Issue Open | September 9, 2020 - September 24, 2020 |
| 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 | IND BBB (Outlook Stable) by India Ratings |
| Tenor | 24, 36, 50, 60, 85 months and 480 days |
| Series | |
| Payment Frequency | |
| 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 |
| Tenure | 480 Days | 24 months | 24 months | 36 months | 50 months | 60 months | 85 months |
|---|---|---|---|---|---|---|---|
| Nature | Secured | ||||||
| Options | I | II | III | IV | V | VI | VII |
| Frequency of Interest Payment | Monthly | Monthly | Cumulative | Monthly | 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 in Category I, II and III | 9.50% | 9.75% | NA | 10.00% | NA | 10.50% | NA |
| Coupon Type | Fixed | ||||||
| Redemption Amount (Rs /NCD) for NCD Holders in Category I, II and III | 1,000 | 1,000 | 1,205 | 1,000 | 1,500 | 1,000 | 2,000 |
| Effective Yield (%) (per annum) - Category I, II and III | 9.92% | 10.20% | 9.77% | 10.47% | 10.22% | 11.02% | 10.28% |
| Put and Call Option | Not Applicable | ||||||
The Company has received rating of 'IND BBB': Outlook Stable' by India Ratings. This means the NCD has 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 (Rs in Million) | ||||
|---|---|---|---|---|---|
| 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |||
| Total Assets | 20,256.47 | 17,061.81 | 19,671.30 | ||
| Total Revenue | 3,131.53 | 2,948.04 | |||
| Profit After Tax | 335.42 | 233.01 | |||
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 September 2020 was subscribed 1.79 times on September 24, 2020 5:00:00 PM. The NCD subscribed .
| Category ? | Subscription (times) |
|---|---|
| Category 3 | 2.19x |
| Category 2 (NII) | 1.72x |
| Category 1 (QIB) | 0.00x |
| Total | 1.79x |
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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: 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: ncd2.mmfl2020@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
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