Muthoottu Mini

Muthoottu Mini Financiers Ltd NCD Details

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. 

NCD Details:

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
Listing At BSE
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. 

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