Muthootu Mini's Rs 125 crore NCD Issue open
The 14th NCD Issue offers various options for the 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.
Muthoottu Mini Financers Limited, has announced the opening of its public issue of Secured and Unsecured Debentures (“NCDs”)of the face value of Rs 1,000 each.
The 14 th 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 Secured and Unsecured NCDs offered through Prospectus dated March 25, 2021 are proposed to be listed on the BSE.
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.
The terms of each options of NCDs, offered under Issue are set out below:
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 crore, which accounted for 97.27% of its total loans and advances.
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 and Whole-time Director and Mathew Muthoottu, Managing Director.
Muthoottu Mini Financiers Limited is RBI registered non-deposit taking systemically important NBFC in the loan against gold financing sector.
As on December 31, 2020 Muthoottu Mini Financiers Limited had a network of 804 branches spread in 10 states and the union territory of Puducherry. 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.