Muthoot Microfin IPO is a book built issue of Rs 960.00 crores. The issue is a combination of fresh issue of 2.61 crore shares aggregating to Rs 760.00 crores and offer for sale of 0.69 crore shares aggregating to Rs 200.00 crores.
Muthoot Microfin IPO opens for subscription on December 18, 2023 and closes on December 20, 2023. The allotment for the Muthoot Microfin IPO is expected to be finalized on Thursday, December 21, 2023. Muthoot Microfin IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, December 26, 2023.
Muthoot Microfin IPO 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.
ICICI Securities Limited, Axis Capital Limited, Jm Financial Limited and SBI Capital Markets Limited are the book running lead managers of the Muthoot Microfin IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Muthoot Microfin IPO DRHP for detailed information.
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 IPO Reservation
Muthoot Microfin IPO offers 22,852,234 shares. 6,529,210 (28.57%) to QIB, 4,896,907 (21.43%) to NII, 11,426,117 (50.00%) to RII. 224,041 RIIs will receive minimum 51 shares and 2,286 (sNII) and 4,572 (bNII) will receive minimum 714 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | – | NA |
| QIB Shares Offered | 6,529,210 (28.57%) | NA |
| NII (HNI) Shares Offered | 4,896,907 (21.43%) | |
| bNII > ₹10L | 3,264,604 (14.29%) | 4,572 |
| sNII < ₹10L | 1,632,302 (7.14%) | 2,286 |
| Retail Shares Offered | 11,426,117 (50.00%) | 224,041 |
| Total Shares Offered | 22,852,234 (100%) |
Muthoot Microfin IPO Timeline (Tentative Schedule)
Muthoot Microfin IPO opens on December 18, 2023, and closes on December 20, 2023.
| 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 |
Muthoot Microfin IPO Lot Size
Investors can bid for a minimum of 51 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| 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 |
| Lot Size Calculator |
Muthoot Microfin IPO Promoter Holding
The promoters of the company are Thomas John Muthoot, Thomas Muthoot, Thomas George Muthoot, Preethi John Muthoot, Remmy Thomas, Nina George and Muthoot Fincorp Limited.
| Share Holding Pre Issue | 69.08% |
| Share Holding Post Issue | 55.47% |
About Muthoot Microfin Limited
Founded in April 1992, Muthoot Microfin Limited, a subsidiary of Muthoot Pappachan Group, provides micro-loans to female customers with a focus on rural regions in India.
The company provides:
- Group loans for livelihood solutions such as income-generating loans, Pragathi loans (bridging loans to existing customers for working capital and income-generating activities) and individual loans
- Life betterment solutions including loans for cell phones, solar lights and household appliances
- Health and hygiene loans such as loans to improve sanitary facilities
- Secured loans in the form of gold loans and our Muthoot Small & Growing Business (“MSGB”) loans.
In 2021, the company launched the “Mahila Mitra” mobile application, which enables digital payment methods such as QR codes, websites, SMS-based links and voice-based payment methods. As of March 31, 2023, 1.18 million customers have downloaded the Mahila Mitra application and 1.70 million customers have made digital transactions.
As of March 31, 2023, the company has 2.77 million active customers, 1,172 branches in 321 districts in 18 states and union territories in India, and employs 10,227 people.
Muthoot Microfin Limited Financial Information (Restated)
Muthoot Microfin Limited’s revenue increased by 71.58% and profit after tax (PAT) rose by 245.77% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 8,529.20 | 5,591.46 | 4,183.85 |
| Revenue | 1,446.34 | 842.94 | 696.28 |
| Profit After Tax | 163.89 | 47.40 | 7.05 |
| Net Worth | 1,625.85 | 1,336.58 | 889.89 |
| Reserves and Surplus | 1,282.15 | 1,040.10 | 642.84 |
| Total Borrowing | 6,493.18 | 3,996.61 | 3,015.66 |
| Amount in ₹ Crore |
Key Performance Indicator
Muthoot Microfin IPO Market Cap is Rs 4960.82 Cr and P/E (x) is 24.96.
| KPI | Values |
|---|---|
| P/E (x) | 24.96 |
| 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% |
Check Muthoot Microfin IPO Peer Comparison here.
Objects of the Issue (Muthoot Microfin IPO Objectives)
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards augmenting the capital base to meet future capital requirements. The main objects and objects incidental and ancillary to the main objects set out in the Memorandum of Association enable the company:
(i) to undertake our existing business activities, and (ii) to undertake the activities proposed to be funded from the Net Proceeds. Further, the Company expects to receive the benefits of listing the Equity Shares on the Stock Exchanges, including enhancing the brand image among existing and potential customers and creating a public market for the Equity Shares in India.
Muthoot Microfin IPO Review (Apply)
[Dilip Davda] The company is in micro finance business with a major thrust on rural areas and Joint Liability Group funding. It has posted steady growth in its performance and has kept NPAs under control. Based on FY24 annualized earnings, the issue appears reasonably priced. Investors may park funds for the medium to long-term rewards. Read detail review…
Muthoot Microfin IPO Subscription Status (Bidding Detail)
Due to a technical problem we are not able to receive live subscription data from the IPO bidding platform of the stock exchanges. We are working on it.
The Muthoot Microfin IPO is subscribed 0.10 times on December 18, 2023 11:41:00 AM (Day 1). The public issue subscribed 0.18 times in the retail category, 0.00 times in the QIB category, and 0.04 times in the NII category. Check Day by Day Subscription Details (Live Status) Reload Subscription
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 0.00 | 65,29,210 | 4,182 |
| NII | 0.04 | 48,96,907 | 2,09,610 |
| bNII (bids above ₹10L) | 0.03 | 32,64,604 | 92,463 |
| sNII (bids below ₹10L) | 0.07 | 16,32,302 | 1,17,147 |
| Retail | 0.18 | 1,14,26,117 | 20,32,503 |
| Total | 0.10 | 2,28,52,234 | 23,29,782 |
Total Application : 75,778
Muthoot Microfin Limited Contact Details
Muthoot Microfin Limited
13th Floor, Parinee Crescenzo,
Bandra Kurla Complex
Bandra East, Mumbai 400 051,
Phone: +91 48 4427 7500
Email: info@muthootmicrofin.com
Website: https://muthootmicrofin.com/
Muthoot Microfin IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: muthoot.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/