Incorporated in the year 1998, a systemically important non-deposit taking NBFC in the gold loan sector, Muthoottu Mini Financers Ltd.(“ Muthoottu Mini”/ ‘MMFL’), has announced the opening of its public issue of Secured and Unsecured Debentures (“NCDs”) of the face value of Rs. 1,000 each.
The 14th NCD Issue aggregates to Rs. 125 crore, with an option to retain over-subscription upto Rs. 125 crore, aggregating upto a total of Rs. 250 crore. The 14th NCD Issue offers various options for subscription of NCDs with coupon rates ranging from 9.00% - 10.25% p.a. The 14th Issue opens on March 30, 2021 and closes on April 23, 2021, with an option of early closure or extension.
As on 30th September 2020, MMFL had 3,69,019 gold loan accounts, predominately from rural and semi urban areas, aggregating to Rs. 1825.55 cr which accounted for 97.27% of its total loans and advances. Its net Non-Performing Assets for six-month period ended September 30, 2020 stood at 0.59%, lower from the March, 2020 reported net Non-Performing Assets of 1.34%.
The Company, erstwhile part of a family business enterprise that was founded by Ninan Mathai Muthoottu in 1887 is now spearheaded by Nizzy Mathew, Chairwoman & Whole-time Director and Mathew Muthoottu, Managing Director.
The terms of each options of NCDs, offered under Issue are set out below:
Net proceeds of the Issue will be utilized for the purpose of onward lending, financing, and for repayment/prepayment of principal and interest on borrowings of the Company (Atleast 75%) - and the rest (up to 25%) for general corporate purpose.
The Secured and Unsecured NCDs offered through Prospectus dated March 25, 2021 are proposed to be listed on the BSE.
The Lead Manager to the Issue is Vivro Financial Services Private Limited
Vistra ITCL (India) Limited is the Debenture Trustee and Link Intime India Private Limited is the Registrar to the Issue.
Bengaluru, India – May 02, 2024 – Agora, Inc.
Gurugram, India – October 11, 2023: Samsung announced exciting offers
Bangalore, 10th October 2023: The Nokia G42 5G (16GB+256G
Bengaluru, October 10, 2023 IN-SPACe (Indian National Space Promotion and
India – April 30, 2024 – Solitario, the premier destination for luxury lab-grown diamo
Mumbai - National, 29th April 2024: Greenply Industries Limited, a pioneer in the interior infrastructu
Bengaluru, 29 April 2024: Zepp Health, a global provider of smart wearables and health technology, has announced the launch o
Education / 05-05-2024
BML Munjal University institutes School of Liberal Studies Conversations; organizes the Inaugural Edition on ‘Hindi: Vaad-Vivaad-Samvaad’People / 05-05-2024
Telangana voters aim to choose the party which delivers on promises, having learned from Assembly elections let-down: Konda Vishweshwar ReddyKerala / 04-05-2024
Scientists need to check misuse of traditional knowledge: CSIR-NIIST workshop on IPRCorporate / 04-05-2024
CSIR-NIIST opens Innovation Centre for startups Facility to promote tech-driven entrepreneurshipElectronics / 04-05-2024
Samsung to Soon Unveil Galaxy F55 5G with Premium Vegan Leather Finish in IndiaPelikken © Copyright 2022, All Rights Reserved
