Muthoottu Mini Financiers Ltd NCD period from June 3 to June 26, 2020:
The Muthoottu Mini Financiers Limited embedded in 1998 in Kerala. It is a non-deposit taking systematically important non-banking financial company. The company mainly involved in the gold loan sector. It also extended its network in Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Delhi, and Goa. The company has 767 branches with 3,141 employees in India.
|Bid Period||3rd June to 26th June 2020|
|Security Name||Muthoottu Mini Financiers Ltd|
|Security Type||Secured, Redeemable, Non-convertible Debentures (Secured NCDs)|
|Issue Size (Base)||Rs 100 Cr|
|Issue Size (Shelf)||Rs 200 Cr|
|Issue Price||Rs 1000 Per NCD|
|Face Value||Rs 1000 Each NCD|
|Minimum Lot Size||10 NCD|
|Market Lot||1 NCD|
|Credit Rating||CARE BBB- / Stable|
|Tenor||480 days, 24 months, 36 months, 50 months, 60 months, 85 months|
|Series||Series I to VII|
|Payment Frequency||Monthly and Cumulative|
|Basis of Allotment||First Come First Seve Basis|
Muthoottu Mini Finance Limited plans to raise a base issue size of Rs 100 cr. Initially, every investor needs to invest a minimum of 5 NCDs with a market lot of 1 NCD. The face value of this fund is Rs 1,000 per NCD. It also provides different interest rates and tenures of 480 days, 24 months, 36 months, 50 months, 60 months, and 85 months.
Muthoottu Mini Financiers Limited Coupon Rates:
|Series||Frequency||Tenure||Coupon Rate||Maturity Amount|
|I||Monthly||480 Days||9.50%||Rs 1,000|
|II||Monthly||24 Months||9.75%||Rs 1,000|
|III||Cumulative||24 Months||NA||Rs 1,205|
|IV||Monthly||36 Months||10.00%||Rs 1,000|
|V||Cumulative||50 Months||NA||Rs 1,500|
|VI||Monthly||60 Months||10.50%||Rs 1,000|
|VII||Cumulative||85 Months||NA||Rs 2,000|
The Muthoottu allotted 1,00,000 NCD’s from that it allotted 100,00 0 NCD’s for QIB. Similarly, it allotted 400,000 and 500,000 NCDs for NIIs and HNIs respectively. The Care Rating Agency rated as Care BBB- / Stable. It will be listed on the Bombay Stock Exchange (BSE).
Disclaimer: This article provides information about the scheme. It does not give any advice or recommendation. Please consult your financial adviser before investing.