Muthoot Microfin IPO GMP: At 11:15 am, the issue attracted bids for 3,33,38,445 shares or 1.37 times the issue size of 2,43,87,447 shares. The quota reserved for retail individual investors (RIIs) was subscribed 2.30 times. The issue was subscribed to 99% in the NII category. There were no bids from qualified institutional buyers so far.
The IPO comprises a fresh issue of Rs 760 crore and an offer-for-sale (OFS) of Rs 200 crore. Under the OFS, promoters Thomas John Muthoot, George Muthoot, Preethi John Muthoot, Remmy Thomas, and investor Greater Pacific Capital will offload shares.
The microfinance firm aims to augment its capital base through the proceeds from the initial public offering. As per the RBI regulations, microfinance institutions are required to maintain a minimum capital adequacy of 15% consisting of tier-I capital and tier-II capital.
Fedbank Financial Services | Canara Bank Securities also feels the issue appears fully priced with peers, though the MSME industry has huge untapped potential along with increasing competition.
Flair Writing Industries is raising a total of Rs 593 crore via its initial stake sale in the fixed price band of Rs 288-304 per share in the lot size of 49 equity shares