Muthoot Microfin, the microfinance arm of the Muthoot Pappachan Group, is planning to tap the capital markets with an initial share sale offer of Rs 1,500-1,800 crore by the last quarter of 2023.
Delhi-based Muthoot Microfin is promoted by Muthoot Fincorp, which is the third-largest gold loan player and the flagship firm of Muthoot Pappachan Group.
This is the third largest MFI with a client base of 2.2 million across 18 states and served by its 1,008 branches. As of September 2022, the company had an active loan book of Rs 7,500 crore.
We are planning a Rs 1,500-1,800-crore IPO by the fourth quarter of 2023 and expected to file the IPO papers with the Sebi by May 2023, Thomas Muthoot, managing director of Muthoot Microfin, told PTI on Wednesday from Kochi.
At Rs 1,500-1,800 crore, our IPO will be the largest from the MFI segment, Muthoot said, adding that Muthoot Microfin will also be the first MFI to cross the Rs 10,000-crore AUM mark by the time of listing.
Muthoot Fincorp and
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