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13/12/2023 13:30

Muthoot Microfin announces launch of initial public offering

Muthoot Microfin Ltd. has announced public offering of 32989691 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 281.00 per share. The gross proceeds of the issue are expected to be Rs 96,000.00 lakhs.

The company's initial public offer (IPO) will open on 18 December 2023 and is expected to close on 20 December 2023, subject to customary closing conditions. The price band of the issue has been fixed at Rs 277.00-291.00 per share.

The IPO includes a fresh Issue of 32989691 Equity Shares of the Company at an price of Rs 291.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 51 shares with bids in multiples of 51.

Muthoot Microfin Ltd. anticipates using the proceeds of the issue for (i) to undertake the existing business activities; and (ii) to undertake the activities proposed to be funded from the Net Proceeds.

SBI Capital Markets Limited,ICICI SECURITIES LTD,Axis Capital Ltd.,JM Financial Ltd. as lead manager(s) & KFin Technologies Ltd. is the registrar, to the issue.