IPO alert: Muthoot Microfin allocates shares to anchor investors at ₹291 per share

Muthoot Microfin’s IPO committee, in consultation with its book-running lead managers, has finalised the allocation of about 97.93 lakh equity shares to 26 anchor investors at an anchor investor allocation price (AIAP) of ₹291 per equity share aggregating ₹285 crore.

Anchor investors who have been allocated more than 5 per cent of the microfinance company’s anchor investor portion include: Muthoot Finance (10.53 per cent), WCM International Small Cap Growth Fund (9.28 per cent), ICICI Prudential Life Insurance Co, HDFC Life Insurance Co and Bajaj Allianz Life Insurance Co (7.72 per cent each), JNL Multi-Manager International Small Cap Fund (5.32 per cent), ACM Global Fund VCC and Kotak Mahindra Life Insurance Co (5.26 per cent each), WCM International Small Cap Growth Fund L.P (5.14 per cent) and The North Carolina Supplemental Retirement Plans Group Trust (5.17 per cent).

As per SEBI (Issue of Capital and Disclosure Requirement) Regulations, 2018, if the Offer Price discovered through the book- building process is higher than the AIAP, the anchor investors must pay the difference, per Muthoot Microfin’s exchange filing.

Muthoot Microfin’s initial public offering of equity shares with a face value ₹10 is scheduled to open on December 18, 2023, and close on December 20, 2023.

The price band of the offer has been fixed at ₹277 to ₹291 per equity share. Bids can be made for a minimum of 51 equity shares and multiples of 51 equity shares thereafter.

The company plans to raise funds through an initial public offering with a total offer size aggregating to ₹960 crore.  The total offer size comprises a fresh issue of equity shares aggregating to ₹760 crore and an offer of Equity Shares aggregating to ₹200 crore) by the selling shareholders.