The problem includes a base size or ₹ 100 million rupees with an option to retain excessive size of up to ₹ 100 million rupees, adding to a total of ₹ 200 million rupees
Mushottu Mini Financiers Ltd has announced the launch of a public issuance of its non -convertible and exchangeable obligations with a nominal value of ₹ 1,000 each. The problem includes a base size of ₹ 100 million rupees with an option to retain the subconfense of up to ₹ 100 million rupees, adding to a total of ₹ 200 million rupees.
The NCD is scheduled to close on May 7 and will offer effective annualized interest rates that vary from 9.50 to 10.75 percent under its series-II to Series-VI, depending on the selected tenor. The problem processes will be implemented for loans, reimbursement or preparation of Ontvard and interesting in existing loans, and for general corporate purposes, said a press release.
NCD problem
The NCD problem has been qualified ‘ICRA A (stable)’ by ICRA LTD, which will remain valid on the date of the problem and the assignment of the NCD.
The company’s main business focuses on gold loans, and customers promise their gold ornaments and their technology helps reduce the time it takes to complete the transactions of gold loans. Beyond the gold loans, the Muffottu financial mini also sacrifice other financial services, such as insurance agents services, money transfer services and participants deposit services.
As of December 31, 2024, it maintains the golden loans of 5.98.002 that are added to ₹ 3,51,650.71 Lakh and 84,003 microfinance loan accounts that are added to ₹ 29.618.21 Lakh.
Posted on April 23, 2025