Muthoottu Mini Financiers Ltd.

Muthoottu Mini Financiers Ltd. NCD Details

Muthoottu Mini Financiers Ltd. NCD Subscription Period From 9th September To 6th October 2020:

The Muthoottu Mini Financiers Ltd. was embedded in 1998. It is a non-deposit taking the non-banking financial company. The company is mainly involved in personal and business loans. The NCD subscription period started on September 9th and it will end on October 6th, 2020. 

NCD Details:

Bid Period 9th September to 6th October 2020
Security Name Muthoottu Mini Financiers Ltd.
Security Type Secured, Redeemable, Non-Convertable Debentures
Issue Size (Base) Rs.100 Cr
Issue Size (Shelf) Rs. 100 Cr
Issue Price Rs. 1,000 per NCD
Face Value Rs. 10 per 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

Muthoottu Mini Financiers Limited plans to raise a base issue size of Rs. 100 Cr. Initially, every investor needs to invest a minimum of 10 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 24 months, 36 months, 60 months. 

Muthoottu Mini Financiers Ltd. 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 Mini Financiers allotted 10,00,000 NCD’s and it allotted 1,00,000 NCD’s for QIB. Similarly, it allotted 4,00,000 and 5,00,000 NCDs for NIIs and HNIs respectively. The Indian Rating Agency rated the NCD as IND BBB (Outlook 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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