Muthoottu Mini Financiers Launches Public Issue of Secured Non-Convertible Debentures

Bengaluru: Muthoottu Mini Financiers Limited has announced a public issue of secured, redeemable non-convertible debentures (NCDs) to raise up to ₹200 crore. The issue aims to utilize funds for onward lending, financing, and repayment/prepayment of borrowings.

The NCD issue comprises a base size of ₹100 crore with an option to retain over-subscription up to ₹100 crore. The effective annualized interest rates range from 9.50% to 10.75%, depending on the tenor selected. Tenor options include 18 months to 60 months, with cumulative or monthly interest payment options.

The 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. The NCD issue has been rated ‘ICRA A (Stable)’ by ICRA Limited.