Muthoot Microfin IPO Price: ₹277 - ₹291
IPO Date Range: Dec 18, 2023 - Dec 20, 2023
Established in April 1992, Muthoot Microfin Limited operates as a specialized microfinance institution. Its primary focus lies in providing microloans to female clients, aiming to generate income specifically in rural areas across India.
As of March 31, 2023, the company boasted a gross loan portfolio totaling ₹92,082.96 million. It operates under the joint liability group model of microfinance, a strategy tailored exclusively for women in low-income households. This model hinges on the belief that providing credit access empowers these individuals to uncover new opportunities, enhancing their existing income.
By March 31, 2023, the company had a workforce of 8,236 branch managers, credit managers, and relationship managers. Additionally, Muthoot Microfin extended its services to 2.77 million customers across 1,172 branches situated in 321 districts across 18 Indian states and union territories. This extensive network was supported by a dedicated team of 10,227 employees.
The company excels in various domains:
| IPO Date | December 18, 2023 to December 20, 2023 |
| Listing Date | Tuesday, December 26, 2023 |
| 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 (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 |
Investors can bid for at least 51 shares and then add more in multiples of 51. The table below shows the smallest and largest amounts retail investors and high net-worth individuals (HNI) can invest, both in shares and money.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 51 | ₹14,841 |
| Retail (Max) | 13 | 663 | ₹192,933 |
| S-HNI (Min) | 14 | 714 | ₹207,774 |
| S-HNI (Max) | 67 | 3,417 | ₹994,347 |
| B-HNI (Min) | 68 | 3,468 | ₹1,009,188 |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| 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 |
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Between March 31, 2022, and March 31, 2023, Muthoot Microfin Limited saw a significant surge in revenue by 71.58%, accompanied by a remarkable 245.77% increase in profit after tax (PAT).
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 4183.85 | 5591.46 | 8529.20 |
| Revenue | 696.28 | 842.94 | 1446.34 |
| Profit After Tax | 7.05 | 47.40 | 163.89 |
| Net Worth | 889.89 | 1336.58 | 1625.85 |
| Reserves & Surplus | 642.84 | 1040.10 | 1282.15 |
| Total Borrowings | 3015.66 | 3996.61 | 6493.18 |
| KPI | Values |
|---|---|
| P/E (x) | 20.75 |
| Post P/E (x) | 25.38 |
| Market Cap (₹ Cr.) | 4960.82 |
| ROE | 11.06% |
| Debt/ Equity | 3.99 |
| EPS (Rs) | 11.98 |
| RoNW | 10.08% |
The company aims to utilize the Net Proceeds from the Fresh Issue to bolster its capital base, catering to future financial needs. The primary and ancillary objectives outlined in the Memorandum of Association empower the company to:
(i) sustain our current business operations, and
(ii) facilitate the activities intended to be financed through the Net Proceeds.
Additionally, listing the Equity Shares on the Stock Exchanges is anticipated to yield various advantages for the Company, such as bolstering the brand's image among current and prospective customers and establishing a public market for the Equity Shares in India.
Prospectus: Official documents that provide detailed information about the IPO and the company. Muthoot Microfin IPO DRHP and Muthoot Microfin RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"Muthoot Microfin Limited" IPO is ₹277 to ₹291 per share.
The "Muthoot Microfin Limited" IPO is expected to be listed on Tuesday, 26 December 2023.
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