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.
|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|
|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.