Muthoot Microfin Limited IPO Opens Today: Should You Subscribe? Key Things To Know

New Delhi: The Initial public offering (IPO) of Muthoot Microfin Limited will open on Monday (December 18, 2023). The Company plans to raise funds through initial public offering with total offer size aggregating  to Rs 960 crore.

Muthoot Microfin Limited has set the Price Band of the Offer at Rs 277 to Rs 291 per Equity Share with face value of Rs 10.

The offer for sale comprises of Equity Shares by Thomas John Muthoot aggregating to Rs 16.36 crore, by Thomas Muthoot aggregating to Rs 16.38 crore, by Thomas George Muthoot aggregating to Rs 16.36 crore, by Preethi John Muthoot aggregating to Rs 33.74 crore, by Remmy Thomas aggregating to Rs 33.39 crore, by Nina George aggregating to Rs 33.77 crore, by Greater Pacific Capital WIV Ltd aggregating to Rs 50 crore.

Ahead of the IPO, on Friday Muthoot Microfin Limited allotted 97,93,812 equity shares to 26 anchor investors and raised Rs 284.99 crore ahead of company’s proposed IPO at the upper price band of Rs 291 per equity share (including share premium of Rs 281 per equity share) with face value of Rs 10 per share.

Key Things To Know About Muthoot Microfin Limited IPO 

The Anchor Investor Bidding Date shall be Friday, December 15, 2023. The Offer will open for subscription on Monday, December 18 and will close on Wednesday, December 20, 2023.

The total offer size comprises of fresh issue of Equity Shares aggregating to Rs 760 crore and offer of Equity Shares aggregating to Rs 200 crore by the selling shareholders.

The Company proposes to utilize the Net Proceeds from the Fresh Issue towards augmenting its capital base to meet future capital requirements.

Bids can be made for a minimum of 51 Equity Shares and in multiples of 51 Equity Shares thereafter.

5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors) including Mutual Funds, subject to valid Bids being received at or above the Offer Price. 

However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs.

ICICI Securities Limited, Axis Capital Limited,  JM Financial Limited and SBI Capital Markets Limited are the book running lead managers to the Offer.