IPO screener: Muthoot Microfinance shares to be listed today

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Shares of the Muthoot Pappachan Group company Muthoot Microfinance will be listed at the bourses today. The issue price of the ₹960-crore IPO has been fixed at ₹291, at the upper end of the ₹277-291 price band. The issue was subscribed 11.52 times.

The offer comprised a fresh issue of ₹760 crore (2.61 crore shares) and an offer-for-sale (OFS) of ₹200 crore (0.69 crore shares). Investor shareholders who offloaded their shares included Greater Pacific Capital WIV, and promoters Thomas John Muthoot, Thomas Muthoot, Thomas George Muthoot, Preethi John Muthoot, Remmy Thomas, and Nina George.

While the retail investors’ portion was subscribed 7.6 times, the non-institutional quota was bid 13.2 times and the QIB portion 17.47 times.

IPO screener: Muthoot Microfin issue closes today

As part of the IPO process, the company raised ₹285 crore from 26 anchor investors at ₹291 a share. Among them were Morgan Stanley, Societe Generale, Copthall Mauritius Investment, ICICI Prudential Life Insurance, HDFC Life Insurance, Bajaj Allianz Life Insurance, Kotak Mahindra Life Insurance and SBI General Life.

The company plans to use the proceeds to augment its capital base to meet its future capital requirements.

ICICI Securities Ltd, Axis Capital Ltd, JM Financial Ltd, and SBI Capital Markets Ltd are the book-running lead managers of the IPO, while Kfin Technologies is the registrar for the issue.

The Kochi-based microfinance institution has recorded 246 per cent on-year growth in net profit at ₹163.9 crore for the year ended March FY23 and revenue zoomed 71.6 per cent to ₹1,428.8 crore.