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Muthoot Microfin IPO subscription status day 1: Issue booked 83%, retail portion booked 1.38 times

Muthoot Microfin is promoted by Muthoot Fincorp, which is the third-largest gold loan player.

Published on: Dec 18, 2023 11:09 PM IST
PTI | By HT News Desk
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Muthoot Microfin, the microfinance subsidiary of the Muthoot Pappachan group, got subscribed 82 per cent on the first day of its ₹960 crore initial public offering. The total bids amounted to 2,00,28,108 shares against the 2,43,87,447 shares offered, according to National Stock Exchange data.

IPO. (Representative Photo)
IPO. (Representative Photo)

The quota for Retail Individual Investors (RIIs) was subscribed 1.37 times, while non-institutional investors subscribed to 60 per cent of their allocated portion.

Muthoot Microfin is promoted by Muthoot Fincorp, which is the third-largest gold loan player and the flagship firm of Muthoot Pappachan group.

Also read: SEBI sets conditions for National Stock Exchange IPO. These are…

The IPO offers shares in the price range of ₹277-291 each.

The company plans to raise ₹960 crore through the IPO. Of this amount, up to ₹760 crore will be for a fresh issue of shares, while the remaining ₹200 crore constitutes an offer for sale (OFS) of equity shares with a face value of ₹10 each.

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The company secured ₹284.99 crore from anchor investors, including Muthoot Finance, WCM International Smallcap Fund, ICICI Prudential Life, and HDFC Life.

The IPO subscription is open from December 18 to December 20, with share allotment expected to be finalised on December 21. Refunds and crediting to allottees' demat accounts are scheduled for December 22. The share is anticipated to be listed on the stock exchanges on December 26.

 
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HT News Desk

Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.

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