Muthoot Microfin files draft papers for IPO with SEBI
Muthoot Microfin Limited, a Microfinance Corporation Offering microcredit to women with a focus on rural areas, she has drafted her Red Herring Bulletin initial public offering (IPO) with the Securities and Exchange Board of India (SEBI).
Muthoot Microfin is the fourth largest NBFC-MFI in India in terms of total loan portfolio as of December 2022, and the third largest NBFC-MFI in South India. It is the largest in Kerala in terms of MFI market share, and has a market share of 16 percent in Tamil Nadu.
The company plans to raise up to Rs 1,350 crore via IPO, which will include a new issue of shares worth Rs 950 crore and Offer for Sale (OFS) totaling up to Rs 400 crore by existing shareholders.
OFS consists of selling shares totaling ₹70 crore each of Thomas John Mothot, Thomas Mothot and Thomas George Mothot. It also includes the sale of shares worth up to Rs 30 crore to Preethi John Mothot, Rimi Thomas and Nina George as part of the promoter group. Further, Greater Pacific Capital WIV will sell shares amounting to ₹100 crore.
ICICI SecuritiesAxis Capital, JM Financial and SBI Capital Markets are the principals responsible for issuing the book.