Connect with us

The Plunge Daily

Muthoot Microfin files preliminary papers for Rs 1,350 crore IPO

Muthoot Microfin files preliminary papers for Rs 1,350 crore IPO

Business

Muthoot Microfin files preliminary papers for Rs 1,350 crore IPO

Muthoot Microfin plans to raise up to Rs 1,350 crore through an initial share sale and has filed draft papers with markets regulator Sebi. 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.



According to the Draft Red Herring Prospectus (DRHP) filed on Friday, the company will also look at pre-IPO placement to raise Rs 190 crore. If that placement is undertaken, the size of the fresh issue will be reduced. The company plans to use proceeds from the fresh issue for augmenting its capital base to meet future capital requirements. Through the OFS route, various entities plan to offload Rs 400 crore-worth shares. While Greater Pacific Capital WIV Ltd proposes to offload equities worth up to Rs 100 crore, Thomas John Muthoot, Thomas Muthoot and Thomas George Muthoot plan to sell shares aggregating up to Rs 70 crore each.


Also read: MSCS amendment bill to come up in Monsoon session: Cooperation Minister Amit Shah

Besides, shares valued up to Rs 30 crore are planned to be offloaded, each by Preethi John Muthoot, Remmy Thomas and Nina George, as per the DRHP. The company, part of the Muthoot Pappachan Group, had a gross loan portfolio of Rs 9,208.29 crore at the end of March 31. ICICI Securities, Axis Capital, JM Financial and SBI Capital Markets are the Book Running Lead Managers to the issue.


1 Comment

1 Comment

  1. Pingback: Merger raises HDFC Bank's total business to over Rs 41 lakh cr

Leave a Reply

Your email address will not be published. Required fields are marked *

To Top
Loading...