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9.75% Muthoottu Mini Financiers Limited 2028
active
non convertible debentures
Secured
ISIN
INE101Q07BM4
Investment Details
Key Terms
Minimum Investment
₹2,96,981.51
For Settlement Date Sep 09, 2025
Maturity Date
28 Aug 2028
2 Years 11 Months 21 Days
Payment Frequency
monthly
Coupon Rate
9.75 %
fixed
Financial Details
Coupon Type
fixed
Yield to maturity
10.75% p.a
Current Yield
9.88%
Clean Price
₹98.70
Dirty Price
₹98.99
Bond Details
Issue Size
N/A
Base Issue Size
N/A
Greenshoe Option Size
N/A
Issue Closes
N/A
Issue Type
corporate
Face Value
₹1,000.00
Listed
Yes
Allotment Mode
N/A
Mode OF Issue
public placement
Settlement Date
Sep 09, 2025
Coupon Type
fixed
Call Date
N/A
Put Date
N/A
Tier
N/A
Perpetual
No
Issue Date
28 Aug 2025
Risk Factor
Tax Type
Taxable
Tax Free
Mode of Issue
Public
Private
Seniority
Non-Senior
Senior
Security
Unsecured
Secured
Issue Managers
Current MD/CEO
Mathew Muthoottu
Debenture Trustee
Mitcon Trusteeship Services Limited
Credit Rating
Cash Flow
Investment Amount
₹2,96,981.51
Settlement Date
Payment Term
monthly
Units
300
Repayment Schedule
Download
Date
Interest (9.75%)
Principal
Oct 01, 2025
₹2,643.00
-
Nov 01, 2025
₹2,484.00
-
Dec 01, 2025
₹2,403.00
-
Jan 01, 2026
₹2,484.00
-
Feb 01, 2026
₹2,484.00
-
Mar 01, 2026
₹2,244.00
-
Apr 01, 2026
₹2,484.00
-
May 01, 2026
₹2,403.00
-
Jun 01, 2026
₹2,484.00
-
Jul 01, 2026
₹2,403.00
-
Aug 01, 2026
₹2,484.00
-
Sep 01, 2026
₹2,484.00
-
Oct 01, 2026
₹2,403.00
-
Nov 01, 2026
₹2,484.00
-
Dec 01, 2026
₹2,403.00
-
Jan 01, 2027
₹2,484.00
-
Feb 01, 2027
₹2,484.00
-
Mar 01, 2027
₹2,244.00
-
Apr 01, 2027
₹2,484.00
-
May 01, 2027
₹2,403.00
-
Jun 01, 2027
₹2,484.00
-
Jul 01, 2027
₹2,403.00
-
Aug 01, 2027
₹2,484.00
-
Sep 01, 2027
₹2,484.00
-
Oct 01, 2027
₹2,403.00
-
Nov 01, 2027
₹2,484.00
-
Dec 01, 2027
₹2,403.00
-
Jan 01, 2028
₹2,484.00
-
Feb 01, 2028
₹2,484.00
-
Mar 01, 2028
₹2,319.00
-
Apr 01, 2028
₹2,478.00
-
May 01, 2028
₹2,397.00
-
Jun 01, 2028
₹2,478.00
-
Jul 01, 2028
₹2,397.00
-
Aug 01, 2028
₹2,478.00
-
Aug 29, 2028
₹2,237.70
₹3,00,000.00
Net Returns
₹87,770.70
₹3,00,000.00
Documents
Start investing in Bonds
Debt Quality
Security
Seniority
Listed
It got listed on exchange on Aug 29, 2025
Issuer
Muthoottu Mini Financiers Limited
Issuer Overview
Muthoottu Mini Financiers Ltd (MMFL) was incorporated on March 18, 1998, and operated as an investment company for other group entities until FY06. MMFL then started gold loan advances from FY07 and undertook rapid branch expansions from FY09 onwards. The company was converted to a public limited company on November 27, 2013, and consequently, the name was changed from Muthoottu Mini Financiers Private Limited to MMFL. MMFL also operates as an agent of several money transfer services set-ups, realising agency commission for these services. As on June 30, 2023, the company had a loan portfolio of INR 3,288 crore.
Issuer Highlights
- Business Trajectory: MMFL has over two decades of experience in the gold finance business in the highly competitive markets of Kerala and Tamil Nadu. The company has managed multiple cycles in this business through which it has seen several wide fluctuations in gold prices. MMFL's assets under management grew 30.6% yoy to INR32.6 billion at FYE23 (FYE22: up 25.3% yoy; FYE21: 17.9% yoy), leading to the assets under management (AUM) per branch for gold loans increasing to INR35.4 million (FYE22: INR29.8 million; FYE21: INR24 million). Furthermore, MMFL's branch network has improved over the last few years (FY23:861; FY22: 814; FY21: 807). The company is penetrating deeper into the southern states and plans to expand its branch network in the western and northern states of India.
- Steady Profitability: MMFL’s return on assets improved to 2.24% in Q1FY24 (FY23: 1.90%; FY22: 1.61%), supported by the growth in AUM and control over credit costs. MMFL’s opex to average AUM increased to 6.30% in FY23 (FY22: 6.23%; FY21: 6.48%) due to the addition of branches during the year; however, there is significant room for improvement in productivity. MMFL has increased the proportion of bank funding to bolster its margins. Its operating profit buffers have been stable due to benign credit costs. Also, MMFL has a sound track record in the recovery of gold loans through auctions; in FY23, it realised a surplus of 31.7% over outstanding principal (FY22: 22.6%; FY21: 27.1%). MMFL’s blending funding cost reduced to 9.68% in FY23 (FY22: 9.88%; FY21: 11.89%) due to the redemption of high-interest NCDs.
Industry
Financial Services
Year Founded
1998
Sector
N/A
Ownership
N/A
Head Office
N/A
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Investment Calculator
300 units
Invested Amount
₹2,96,981.51
Earned Interest
₹87,770.70
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