The Muthoot Microfin IPO date has been Confirmed from December 18, 2023 and closes on December 20, 2023.
Using an IPO, Muthoot Microfin is seeking to raise Rs 960.00 crores. The price band is set at ₹277 to ₹291 per share. The minimum lot size for an application is 51 Shares. The minimum amount of investment required by retail investors is ₹14,841. The minimum lot size investment for sNII is 14 lots (714 shares), amounting to ₹207,774, and for bNII, it is 68 lots (3,468 shares), amounting to ₹1,009,188.
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Bidding Dates
December 18-20
Price Range
₹277 to ₹291 per share
Face Value
₹10 per share
GMP
₹421
Muthoot Microfin IPO GMP
The Muthoot Microfin Limited IPO GMP is ₹421.
IPO Overview
Muthoot Microfin is committed to providing microloans, primarily to women consumers, with the primary goal of supporting income development in rural India. It solely caters to women in lower-income households using a joint liability group model, advocating the goal of financial inclusion. Based on its huge gross loan portfolio, it is the fourth-largest Non-Banking Financial Company-Microfinance Institution (NBFC-MFI) in India as of December 31, 2022. Furthermore, it holds the third-largest position among NBFC-MFIs in South India, claiming the top rank in Kerala in terms of MFI market share and playing a critical role in Tamil Nadu with an astounding 16% market share.
As of March 31, 2023, the company’s gross loan portfolio stood at INR 92,082.96 million, with 2.77 million active clients. A devoted staff of 10,227 individuals works across 1,172 branches strategically located in 321 districts across 18 states and union territories in India. Muthoot Microfin has meticulously extended its branch network, with a strategic focus on underserved rural locations with development potential, enabling seamless access for its valued customers.
Notable backers include Creation Investments India LLC and Greater Pacific Capital WIV Ltd. Both have proved their commitment since 2016 and 2021, respectively, holding a considerable 33.48% of the issued, subscribed, and paid-up pre-offer equity share capital. This strong backing strengthens the company’s position in the changing microfinance sector, confirming its commitment to empowering women and supporting financial growth in rural India.
Muthoot Microfin IPO Details
| IPO Date | December 18, 2023 to December 20, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹277 to ₹291 per share |
| Lot Size | 51 Shares |
| Total Issue Size | 32,989,690 shares (aggregating up to ₹960.00 Cr) |
| Fresh Issue | 26,116,838 shares (aggregating up to ₹760.00 Cr) |
| Offer for Sale | 6,872,852 shares of ₹10 (aggregating up to ₹200.00 Cr) |
| Employee Discount | Rs 14 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 116,837,249 |
| Share holding post issue | 142,954,087 |
Muthoot Microfin Financial Performance
| FY 2021 | FY 2022 | FY 2022 | |
| Revenue | 684.17 | 832.51 | 1,428.76 |
| Expenses | 687.23 | 778.22 | 1,233.47 |
| Net income | 7.05 | 47.40 | 163.89 |
| Margin (%) | 5.69 | 11.47 |
Muthoot Microfin IPO Dates and Listing Performance
| IPO Open Date | Monday, December 18, 2023 |
| IPO Close Date | Wednesday, December 20, 2023 |
| Basis of Allotment | Thursday, December 21, 2023 |
| Initiation of Refunds | Friday, December 22, 2023 |
| Credit of Shares to Demat | Friday, December 22, 2023 |
| Listing Date | Tuesday, December 26, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 20, 2023 |
Company Profile
Muthoot Microfin Limited is a microfinance institution focused on rural India that provides micro-loans to women customers (mainly for income generation). According to the CRISIL Report, they are the fourth largest NBFC-MFI in India in terms of gross loan portfolio as of December 31, 2022. According to CRISIL Report, they are also the third largest NBFC-MFI in South India in terms of gross loan portfolio, the largest in Kerala in terms of MFI market share, and a prominent player in Tamil Nadu with an over 16% market share as of December 31, 2022.
Registrar Info
| Name | KFIN TECHNOLOGIES LIMITED |
| Phone number | +91 40 6716 2222 |
| Email ID | muthoot.ipo@kfintech.com |
| Website | kfintech.com |
Contact Details
| Name | MUTHOOT MICROFIN LIMITED |
| Phone number | +91 48 4427 7500 |
| Email ID | info@muthootmicrofin.com |
| Website | muthootmicrofin.com |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
