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. embedded in 1998. It is a non-deposit taking the non-banking financial company. The company 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

Creadit 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    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 from that 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).