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Muthoottu Mini Financiers Limited is raising up to ₹150 crore through a public issue of secured non-convertible debentures (NCDs). With a base size of ₹100 crore, the issue allows for an additional ₹50 crore through oversubscription. The NCDs offer annualised interest rates between 8.84% and 10.5%, depending on the tenure and category. Tenure options include 450 days, 26 months, 36 months, 48 months, and 66 months. Funds raised will go toward onward lending, financing, repayment of borrowings, and general corporate needs. CARE Ratings has assigned the NCDs a rating of "CARE A- Stable," signalling a stable outlook with low credit risk.

Muthoottu Mini Financiers launches NCD issue to raise ₹150 crore.

Muthoottu Mini Financiers Ltd., one of India’s leading Non-Banking Financial Companies (NBFCs), popularly known as ‘Muthoottu Yellow,’ has reaffirmed its commitment to community welfare by launching an initiative aimed at enhancing educational resources for government schools. This initiative will involve distribution of Library Kits to 150 government schools across Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, and Kerala during the academic year 2024-25. This initiative in collaboration with The Hindu will ensure that students from government schools have access to a curated collection of books and other educational materials designed to inspire curiosity and foster a culture of learning. To further enhance the learning environment, Muthoottu Mini Financiers is also providing a complimentary half-yearly subscription to The Hindu’s Weekend Tabloid for all participating schools, delivering high-quality reading materials to young minds.

Muthoottu Mini Financiers Launches Initiative to Enrich Education Resources in Government Schools Across Five States

Muthoottu Mini Financiers Ltd., a leading NBFC in India, won the ‘Best Integrated Marketing Campaign (NBFC)’ award at the 6th CX Excellence Awards 2025 in Bengaluru. The award recognized their ‘Small Gold Loan for Your Small Needs’ campaign, which targeted rural and semi-urban markets with fast, accessible gold loans for everyday needs. Using print, TV, digital, WhatsApp, and community programs featuring real customer stories, the campaign broke stigma around small gold loans, strengthened trust, and expanded reach in Tier 2 and 3 towns.

Muthoottu Mini Financiers Wins ‘Best Integrated Marketing Campaign (NBFC)’ at CX Excellence Awards 2025

MMFL’s portfolio is ~95% South India-based, with Tamil Nadu at 35.81%. Gold loans dominate at 92%, exposing the company to price risk despite strong MTM controls and short tenures.



MMFL faces strong competition from banks and large NBFCs, especially in South India where gold loan activity is high.


MMFL’s fixed assets, initially high due to FY16 investments, have steadily reduced—from 61% of net worth in 2017 to 26.78% in FY25—thanks to equity infusion, revaluation, and no new acquisitions.



The issuer has made timely interest payments.

Mrs. Nizzy Mathew, Chairperson

Mr. Mathew Muthoottu, Managing Director

With 60+ years in gold loans, Mini Muthoottu enjoys strong brand value. MMFL, active since FY07, is expanding nationally, backed by experienced promoters and a seasoned team.


MMFL ensures strong gold appraisal through multi-level authenticity checks and regular audits. Security measures include dual-control vaults, CCTV, insurance, and monthly gold verification. Continuous MTM monitoring helps manage price risk effectively.


MMFL’s gold loans are short-term and fully secured. MTM triggers help manage price risk, with auctions on default. FY25 GNPA/NNPA stood at 0.85%/0.50%. Gold loan DPD improved to 0.50%, while MFI DPD rose to 4.68% (MFI share: 7.89%). Focus remains on gold to ensure stability.


Security Name: 10.00% Muthoottu Mini Financiers Limited 27 Feb 2026

ISIN: INE101Q07AP9

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