The Initial Public Offering (IPO) of the company that provides micro loans to women customers will comprise a fresh issue worth up to Rs 950 crore and an Offer For Sale (OFS) of equities to the tune of Rs 400 crore.
Muthoot Microfin Ltd, the microfinance arm of the Muthoot Pappachan Group, intends to use the proceeds from the fresh issue to augment the capital base.
Muthoot Microfin files draft papers for IPO with SEBI - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Muthoot Microfin, the microfinance subsidiary of Muthoot Pappachan group, has filed draft papers with market regulator Securities and Exchange Board of India (Sebi) to raise Rs 1,350 crore via initial public offering (IPO). The IPO will consist of a fresh issue of equity shares worth Rs 950 crore and an offer for sale of up to Rs 400 crore. This is the second time the company has filed a draft red herring prospectus (DRHP) with Sebi for an IPO. The lenders net profit for FY23 was Rs 203 crore, and its gross non-performing assets ratio improved to 2.9% at the end of March.