Muthoottu Mini Financiers Limited NCD Details
Muthoottu Mini Financiers Limited remains an NBFC firm. It provides gold loan business lending money against the pledge of household gold jewelry. Muthoottu Mini Financiers NCD opens for subscription on March 30th, 2021. Moreover, the scheme will close on April 23rd, 2021.
Basic Details of NCD:
|Issue Opens||March 30th, 2021 – April 23rd, 2021|
|Security Name||Muthoottu Mini Financiers Limited|
|Security Type||Secured, Redeemable, Non-Convertible Debentures (Secured NCDs) and/or Unsecured Subordinated Non-Convertible Debentures (Unsecured NCDs)|
|Issue Size||Rs. 125 crores|
|Issue Size (Shelf)||Rs. 125 crores|
|Minimum Lot Size||10 NCD|
|Market Lot||10 NCD|
|Face Value||Rs. 10 per NCD|
|Issue Price||Rs. 1,000 per NCD|
|Credit Rating||‘IND BBB’: Outlook Stable by India Ratings|
|Tenor||24,42,50,61, and 84 months, 480 days|
|Series||I to VI|
|Payment Frequency||Monthly, Cumulative|
|Basis of Allotment||First Come First Serve Basis|
Objectives of Issue:
The company may utilize net proceeds of the issue for the purpose of onward lending, financing, and repayment/prepayment of principal and interest on borrowings of the company. Moreover, for general corporate purposes.
According to the SID, the base size of the issue is Rs. 125 crores and the shelf size remains at Rs. 125 crores. The price of the issue fixed at Rs. 1,000 per NCD bond with a face value of Rs. 10 each NCD.
Further, the Market lot of the issue is 1 NCD and the minimum lot size of the issue is 10 NCDs.
Besides, the proposed issue to be listed on the Bombay Stock Exchange.
Further, the scheme will lead by VIVRO Financial Services Private Limited.
|Series||Nature||Tenor (Months)||Frequency of Interest Payment||Coupon Rate (Retail)||Effective Yield (Annually)||Amount on Maturity|
This NCD offer remains rated as “‘IND BBB’: Outlook Stable” stable by India Ratings. The rating indicates that instruments with this rating are deemed to hold a sufficient degree of safety regarding timely servicing of financial obligations and carry the moderate credit risk.
Disclaimer: Investors should consult their financial advisers if in doubt about whether the product is suitable for them. Before investment, refer to the SID and statement of additional information available free of cost at any of the Investor Service Centres or distributors.