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Muthoot Microfin Limited, a micro-loan provider to women customers in rural India has today received final observations from SEBI for their proposed Rs 1,350 crore IPO.
The company aims to secure funds by issuing equity shares with a face value of Rs. 10 each, totaling up to Rs. 1350 crore.
This offering comprises a fresh issue of equity shares amounting to Rs 950 crores by the company and an Offer for Sale totaling Rs 400 crores by selling shareholders.
Muthoot Microfin Limited is the fourth largest NBFC-MFI in India in terms of gross loan portfolio as of December 31, 2022 (Source: CRISIL Report) and is the third largest amongst NBFC-MFIs in South India in terms of gross loan portfolio, the largest in Kerala in terms of MFI market share, and a key player in Tamil Nadu with an almost 16% market share, as of December 31, 2022 (Source: CRISIL Report).
The IPO is being managed by Book Running Lead Managers, including ICICI Securities Limited, Axis Capital Limited, JM Financial Limited, and SBI Capital Markets Limited.