Muthoot Microfin IPO: Before the end of the year 2023, Muthoot Microfin is also going to launch its IPO. The IPO of Muthoot Microfin will open on 18 December 2023 and investors will be able to apply for the IPO till 20 December. The company is going to raise Rs 960 crore through IPO. The company will announce the price band of the IPO in the coming days.
In the month of October, stock market regulator SEBI (Securities and Exchange Board of India) had given its approval to Muthoot Microfin to launch IPO. Muthoot Microfin is a subsidiary company of Muthoot Finance. The IPO will open for anchor investors on December 15. Muthoot Microfin will raise Rs 760 crore through fresh issue i.e. issuing new shares and Rs 200 crore through offer for sale.
Muthoot Microfin is among the five largest NBFC-MFI companies of the country with assets of Rs 9200 crore. Muthoot Microfin had filed draft papers to launch IPO in 2018 itself. He had got approval from SEBI. But due to poor market sentiment, the company did not launch an IPO.
The promoters of the company, Thomas John Muthoot, Thomas Muthoot, Thomas George Muthoot, Preeti John Muthoot, Remi Thomas and Nina George will sell shares for Rs 150 crore in the IPO through offer for sale. Whereas Greater Pacific Capital will offload shares worth Rs 50 crore through fall sale. Promoters including Muthoot Microfinance hold 69.08 percent stake in the company. Whereas 28.53 percent shares are held by public shareholders. The company has reserved shares for employees in the IPO.
The company had made a profit of Rs 203 crore in the financial year 2022-23. As of March 2023, the company's gross loan portfolio was Rs 9200 crore. The company has 2.77 million customers. ICICI Securities, Axis Capital, JM Financial and SBI Capital Markets are the book running lead managers of the IPO.
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