Muthoot Microfin IPO sails through on last day of bidding

Muthoot Microfin, the microfinance subsidiary of the Muthoot Pappachan Group, has seen its Rs 960-crore initial public offer (IPO) sailing through, with an overwhelming response across the investor category.

The IPO was oversubscribed 11.5 times, according to stock exchange data. The qualified institutional buyer category was subscribed 17.5 times, the non-institutional investors part received 13.3 times subscription while the retail investors part witnessed 7.6 times subscription.

The IPO hit the market on December 18 with a price band of Rs 277 to Rs 291 per equity share. Wednesday was the closing date for the issue, which comprises fresh issue of equity shares aggregating to Rs 760 crore and an offer-for-sale (OFS) aggregating to Rs 200 crore by the selling shareholders.


The NBFC-MFI also raised Rs 285 crore from anchor investors, ahead of the issue hitting the market