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Muthoottu Mini Financers Ltd, the non-deposit taking NBFC, has announced the opening of its public issue of Secured and Unsecured Debentures of the face value of ₹1,000 each.
The 14th NCD Issue aggregates to ₹125 crore, with an option to retain over-subscription up to ₹125 crore, aggregating up to a total of ₹250 crore. The 14th NCD Issue offers various options for subscription of NCDs with coupon rates ranging from 9 per cent – 10.25 per cent p.a.
The 14th issue opened on March 30 and closes on April 23 with an option of early closure or extension.
As on September 30, 2020, MMFL had 3,69,019 gold loan accounts, predominately from rural and semi urban areas, aggregating to ₹1,825.55 crore, which accounted for 97.27 per cent of its total loans and advances. Its net Non-Performing Assets for six-month period ended September 30, 2020 stood lower at 0.59 per cent against the net NPA of 1.34 per cent reported for the period ended March 2020..
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.
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