Muthoot Microfin IPO Subscribed 82% On Day 1

The IPO has been subscribed 0.82 times or 82% as of 5 p.m. on Monday.

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The initial public offering of Muthoot Microfin Ltd. opened on Monday.

The IPO comprises a fresh issue of shares worth Rs 760 crore and an offer for sale up to Rs 200 crore, aggregating to Rs 960 crore, according to the red herring prospectus for the offer.

The company has set a price band of Rs 277–291 per share for its maiden issues. Investors can subscribe to the offer till Wednesday.

The OFS will see promoters Thomas John Muthoot, Thomas Muthoot, Thomas George Muthoot, Preethi John Muthoot, Remmy Thomas and Nina George sell stake worth Rs 30 crore to Rs 70 crore.

Investor Greater Pacific Capital WIV Ltd. will offload shares up to Rs 100 crore in the IPO.

Business

The microfinance institution provides micro-loans to women customers, primarily for income-generation purposes, with a focus on rural regions of India.

It is a part of the Muthoot Pappachan Group, a business conglomerate with presence across financial services, automotive, hospitality, real estate, information technology infrastructure, precious metals and alternate energy sectors.

Also Read: Muthoot Microfin IPO - Investment Rationale, Issue Details, Financials, Valuations: Anand Rathi

Subscription Status: Day 1

The IPO has been subscribed 0.82 times or 82% as of 5 p.m. on Monday.

  • Institutional investors: Zero

  • Non-institutional investors: 0.60 times or 60%

  • Retail investors: 1.37 times

  • Employee Reserved: 1.24 times

Also Read: Muthoot Microfin IPO: All You Need To Know

Watch IPO Adda With Muthoot Microfin's Management 

Also Read: Familiar Names Throw Their Hats In 2024 IPO Market Revival Ring

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WRITTEN BY
Anjali Rai
Anjali Rai covers stock markets and business news at NDTV Profit. She holds... more
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