The issue comprises a base size of ₹100 crore with an option to retain over-subscription up to ₹100 crore, aggregating to a total of ₹200 crore

Muthoottu Mini Financiers Ltd has announced the launch of a public issue of its secured, redeemable non-convertible debentures with a face value of ₹1,000 each. The issue comprises a base size of ₹100 crore with an option to retain over-subscription up to ₹100 crore, aggregating to a total of ₹200 crore.

The NCD is scheduled to close on May 7 and will offer effective annualised interest rates ranging from 9.50 to 10.75 per cent under its Series-II to Series-VI, depending on the tenor selected. Proceeds from the issue will be deployed toward onward lending, repayment or prepayment of principal and interest on existing borrowings, and for general corporate purposes, said a press release.

NCD issue

The NCD issue has been rated ‘ICRA A (Stable)’ by ICRA Ltd which shall remain valid on date of the issue and allotment of the NCDs.

The company’s core business focuses on gold loans, whereby the customers pledge their gold ornaments and its technology helps reduce the time it takes to complete gold loan transactions. Beyond gold loans, Muthoottu Mini Financiers also offers other financial services such as insurance agent services, money transfer services, and depository participant services.

As on December 31, 2024, it maintained 5,98,002 gold loan accounts aggregating to ₹3,51,650.71 lakh and 84,003 microfinance loan accounts aggregating to ₹29,618.21 lakh.

Published on April 23, 2025