Muthoot Microfin Ltd a big microfinance company in India, its Muthoot Microfin IPO which opened on 18 December 2023 and is set to close on 20 December 2023. The company is selling new shares and some existing shares to raise money and grow.
The IPO is offering 26,116,838 new shares to raise ₹760 Crore and 6,872,852 existing shares to raise ₹200 Crore. Each share costs between ₹277 and ₹291, and investors can buy at least 51 shares.
The total number of shares in the IPO is 32,989,690, aiming to raise a total of ₹960 Crore. Muthoot Microfin’s employees get a special discount of ₹14 per share. The shares will be priced based on demand. After the IPO, the company’s shares will be listed on the BSE and the NSE on 26 December 2023.
Muthoot Microfin IPO Details
| IPO | Muthoot Microfin Limited |
|---|---|
| Open | 18 December 2023 |
| Close | 20 December 2023 |
| Lot Size | 51 Shares |
| IPO Size | 32,989,690 shares (₹960.00 Crore) |
| IPO Price | ₹277 to ₹291 per share |
| Listing Exchange | BSE, NSE |
| Allotment | 21 December 2023 |
| Refunds | 22 December 2023 |
| Demat Account | 22 December 2023 |
| Listing Date | 26 December 2023 |
| RHP | |
| DRHP |
About Muthoot Microfin
Muthoot Microfin Limited is a part of the Muthoot Pappachan Group, a well-established conglomerate with a presence across various sectors including financial services, automotive, hospitality, real estate, information technology infrastructure, precious metals, and alternate energy.
Muthoot Microfin Limited is specifically focused on the microfinance sector and is engaged in providing financial services to customers belonging to low-income groups.
As of March 31, 2023, the company had 2.77 million active customers and operated through 1,172 branches in 321 districts across 18 states and union territories in India. The company’s business model is designed to drive financial inclusion by serving under-served rural markets with growth potential and ensuring ease of access to customers.
Muthoot Microfin Limited is known for its emphasis on providing financial services to low-income customers, and its branch network is strategically located in commercial spaces to ensure accessibility.
The company’s operations are supported by a strong IT network, and it benefits from its association with the Muthoot Pappachan Group, which provides brand recall, significant marketing, and operational benefits. Additionally, there are significant synergies between the financial services business of the group and the microfinance business of Muthoot Microfin Limited.
Overall, Muthoot Microfin Limited plays a crucial role in the Muthoot Pappachan Group’s financial services business, particularly in serving the low-income customer segment and driving financial inclusion in India.
Muthoot Microfin Company Financial
The company’s journey over the past three years is a narrative of strategic financial management and consistent expansion. This is reflected in the comprehensive analysis of its financial statements for the fiscal years ending March 31 in 2021, 2022, and 2023.
Financial Position
As of March 31, 2023, the company’s total assets stood at ₹85,291.99 million, a substantial increase from ₹55,914.58 million in 2022 and ₹41,838.48 million in 2021. This growth is primarily attributed to a significant rise in loans, which surged to ₹70,266.85 million in 2023 from ₹43,981.11 million in 2022, reflecting a robust expansion in the company’s lending activities.
Cash and Bank Balances
The company’s cash and cash equivalents have consistently increased, reaching ₹7,594.55 million in 2023, up from ₹7,058.27 million in 2022 and ₹5,190.76 million in 2021. Additionally, bank balances other than cash and cash equivalents rose to ₹3,909.58 million in 2023, compared to ₹2,940.89 million in 2022.
Receivables and Investments
Other receivables showed a notable increase to ₹722.10 million in 2023, a significant jump from ₹167.73 million in 2022. Investments also saw a remarkable rise from a mere ₹0.45 million in 2021 and 2022 to ₹633.59 million in 2023, indicating a strategic shift in asset allocation.
Liabilities and Equity
The company’s total liabilities and equity mirrored the growth in assets, amounting to ₹85,291.99 million in 2023. Notably, borrowings (other than debt securities) formed a major chunk of the financial liabilities, standing at ₹51,230.25 million in 2023, up from ₹32,969.85 million in 2022.
Revenue and Profitability
The year ended March 31, 2023, saw a remarkable increase in revenue from operations, reaching ₹14,287.64 million, a significant rise from ₹8,325.06 million in 2022. This growth was driven by a substantial increase in interest income, which stood at ₹12,906.45 million in 2023.
Profit for the year also showed an impressive upward trend, with the company recording ₹1,638.89 million in 2023, a stark contrast to the modest ₹70.54 million in 2021.
Apply for the Muthoot Microfin IPO
You can pre-apply for the Muthoot Microfin IPO on Upstox. which means the pre-apply open date, usually begins a day before the IPO opens for the subscription. Follow these steps to pre-apply for the IPO:
- Click on the “Open an Account“
- Fill in the required details
- Complete the verifying your identity
- Login to Your Account
- in the IPO section, click the ‘Muthoot Microfin IPO’ tab
- fill in the required information, like ‘bid price’ and ‘lot size’
- Confirm and click on ‘Pre-Apply’
Muthoot Microfin IPO Lot Size
| 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 Quota:- 50%
- Retail Quota:- 35%
- NII Quota:- 15%
Muthoot Microfin IPO Subscription Status
The IPO Subscription Status provides information about how many times the offered shares have been subscribed by investors.
We couldn’t find the subscription details. Please visit us again sometime…
Muthoot Microfin IPO GMP
Muthoot Microfin IPO GMP (Grey Market Premium), which is an unofficial indicator of how the shares might perform when they are officially listed. Muthoot Microfin’ day-wise IPO GMP trend, check out the table.
| GMP Date | GMP | Estimated Listing Price |
|---|---|---|
| 15-12-2023 | ₹88 | ₹379 (30.24%) |
| 14-12-2023 | ₹95 | ₹386 (32.65%) |
| 13-12-2023 | ₹105 | ₹396 (36.08%) |
| 12-12-2023 | ₹160 | ₹160 (%) |
Muthoot Microfin IPO price?
– The Muthoot Microfin IPO price band from ₹277 and ₹291 per equity share.
Muthoot Microfin IPO date?
– The public issue opened on 18 December 2023 and is set to close on 20 December 2023.
Muthoot Microfin IPO lot size?
– The lot size for the Muthoot Microfin IPO is 51 equity shares.
To stay updated with the latest information related to the stock market and receive live stock market updates, follow Sharedhan and stay connected with us. Check out Today’s Share Market Open or Closed.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Sharedhan. We advise investors to check with certified experts before making any investment decisions.
