Muthoottu Mini

Muthoottu mini’s NCD public issue open, effective annualized yield up to 10.47%*

admin — Mon, 18 Jan 2021 06:42:07 +0000

Muthoottu Mini Financiers Limited is an RBI registered non-deposit taking systemically important NBFC in the loan against gold financing sector, lending money against the pledge of household gold jewellery for over 2 decades

Issue of Secured & Unsecured NCDs of face value of Rs. 1,000 each

The NCD Issue includes a Base Issue Size of Rs.125 crores with an option to retain oversubscription up to Rs.125 crores aggregating up to Rs.250 crores (“15th NCD Issue”)

Secured NCD portion of up to Rs. 200 crores and Unsecured NCD portion up to Rs. 50 crores

The 15th NCD Issue is rated as ‘CARE BBB+’: Stable (Triple B Plus: Stable) by CARE Ratings Limited

The 15th NCD Issue offers effective annualized yield of up to 10.22% p.a. on redemption# for Secured NCDs and 10.41% p.a for Unsecured NCDs

The 15th NCD Issue opened on August 18, 2021 and closes on September 09, 2021 (with an option of early closure)

The NCDs are proposed to be listed on BSE Limited

# For further details please refer Prospectus dated August 13, 2021.

Mumbai/Kochi, 20 August 2021: Incorporated in the year 1998, a systemically important non-deposit taking NBFC in the gold loan sector, Muthoottu Mini Financers Limited (“Muthoottu Mini”/ ‘MMFL’), public issue of Secured and Unsecured Debentures (“NCDs”) of the face value of Rs. 1,000 each is now open.

The 15th NCD Issue has a Base Issue Size of Rs. 125 crores, with an option to retain over-subscription up to Rs. 125 crores, aggregating up to a total of Rs. 250 crores. The NCD Issue offers various options for subscription of NCDs with coupon rates ranging from 8.75% – 10.00% p.a. The NCD Issue opened on August 18, 2021 and closes on September 09, 2021, with an option of early closure or extension.

As on 31st March 2021, MMFL had 3,86,110 gold loan accounts, predominately from rural and semi urban areas, aggregating to Rs. 1,935.10 crores which accounted for 97.04% of its total loans and advances. The yield on its gold assets during the last three fiscals have increased from 19.17% in FY2019 to 19.57% as on FY2021. Its net Non-Performing Assets for FY2021 stood at 0.75%, which is lower from 1.39% reported in the FY2019.

In addition to its gold loan business, it offers micro finance loan, depository participant, money transfer, insurance broking, PAN card related and travel agency services.

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.

CARE upgrades Muthoottu Mini Financiers rating to ‘A- Stable’

admin — Mon, 18 Jan 2021 06:40:40 +0000

Muthoottu Mini Financiers Ltd has registered 25% growth in FY21-22 and aims to close FY22-23 with an AUM of INR 4,000 crores through its aggressive expansion plans.

●   Rating upgraded 3 notches in the last 3 years
●   Registered 25% growth in FY21-22
●   Profitability increased by 45%
●   NPA reduced to 0.52%
●   Plan to reach 1000 Branches by the end of 2023
●   Aim to reach an AUM of INR 4,000 crores in this fiscal year

Muthoottu Mini looks at 60% sales growth this fiscal at Rs 4,000 cr

admin — Mon, 18 Jan 2021 06:39:50 +0000

Gold loan player Muthoottu Mini Financiers is looking to grow its loan sales by over 60 per cent in this fiscal to around Rs 4,000 crore as it embarks on a faster expansion

Kochi-based mid-sized gold loan player Muthoottu Mini Financiers is looking to grow its loan sales by over 60 per cent in this fiscal to around Rs 4,000 crore as it embarks on a faster expansion.
The company, hailing from the same Muthoot family, closed FY22 with over 25 per cent growth and an AUM of Rs 2,500 crore which grew from Rs 1,994 crore in the previous fiscal.
The larger family entity Muthoot Finance is a listed company with over Rs 60,000 crore of AUM while the other one Muthoot Fincorp is the third-largest player with around Rs 10,000 crore of live loans.
The average loan growth rate in the previous three years was 22 per cent, and improved to 25 per cent in FY22 and hopes to clip at over 45 per cent this fiscal.
The managing director Mathew Muthoottu told PTI on Friday that he expects to clip around 45 per cent this fiscal and take the assets under custody past Rs 4,000 crore aided by the ongoing massive expansion under which it will open 170 branches this year, taking the footprint to close to 1,000 by the end of next March.

He said most of the new branches will come up in Gujarat, Maharashtra, Haryana, Delhi-NCR and Andhra-Telangana.

The chief executive PE Mathai said with the rating upgrade to A-, which is three notches up in the past three years, the company hopes to tap more growth capital from banks.

Currently, they borrow heavily from the market and its debt funding, through NCDs, stood at Rs 1,600 crore in FY22 and bank loans at Rs 1,005 crore.

“We want to make the funding source equal from this year and hopefully, the rating upgrade should help,” Mathai said, adding funding from just seven banks till a few years ago, currently they have relationships with more than 20 banks now.

The company serves over 4 lakh customers and has 10 tonnes of gold under custody now. Last year, it added 1.7 lakh new customers and the same stood at 55,000 this year so far.

The company has over 830 branches spanning the home state of Kerala, where it has 170 branches, Karnataka, Andhra, Telangana, Tamil Nadu, Pondicherry, Maharashtra, Goa, Delhi, Gujarat and Haryana and are manned by around 4,000 employees.

Muthoottu Mini’s new film has the netizens raving, here’s the scoop

admin — Mon, 16 Nov 2020 10:38:38 +0000

One of India’s leading NBFC, Muthoottu Mini Financiers Limited’s powerful portrayal of a woman protagonist in its latest commercial has taken the internet by storm and has got the netizens talking about it. With over 2.5 million views on YouTube and counting, the newly launched commercial ad film’s storyline centering around a confident young woman rocking the social status-quo is driving conversations on social media.

Helmed by award-winning director Martin Prakkat and magnificently captured by celebrated cinematographer Jomon T. John, this masterpiece was shot at some of the most picturesque locations in Ladakh. True to their reputation, the duo has brilliantly articulated and captured the controlled emotions of the protagonist, her sly suitor’s expectations and the bonding she shares with her open-minded, progressive father, without any cliched theatrics.

The strategically thought ad film brings the essence of women to focus, not conforming to expectations, or letting barriers to their dreams get in the way – as mirrored by a soul-stirring drive through the limitless expanse of Ladakh.

The film establishes a strong message that no dreams are beyond a woman’s reach if she is focused, has strong convictions backed by a like-minded and progressive-thinking partner. This storytelling perfectly aligns with the brand Muthoottu Mini’s slogan – Standing by you, always.

Speaking at the sidelines of the launch of the new commercial, Mathew Muthoottu, Managing Director, Muthoottu Mini Financiers Limited, said, “We are thrilled and ecstatic at the overwhelming response on our new commercial that encourages women to dream and calls for shattering cultural stereotyping. The ad film makes a bold attempt to dispel outdated societal myths still in vogue and the need to bring in a paradigm shift in our attitude. Being a socially responsible company with strong values, we are extremely proud of rooting for a socially relevant cause. Time has come to address challenges women face and stress the importance of increased participation of women in mainstream activities, be it social-cultural-political-economical. We urge women of today to dream, stay financially independent and go places. Rest assured, Muthoottu Mini will always stand by you.”