Muthoot Microfin's IPO may come in March quarter of FY23

9 Nov 2022 , 03:31 PM

The Muthoot Pappachan Group's microfinance subsidiary, Muthoot Microfin, intends to access the capital markets by the fourth quarter of 2023 with an initial share sale offer of Rs1,500-1,800 crore. Muthoot Microfin, situated in Delhi, is marketed by Muthoot Fincorp, the group's main company and the third-largest provider of gold loans.

With 2.2 million customers spread throughout 18 states and 1,008 locations, this MFI is the third largest in the industry. The business had an Rs7500 cr active loan book as of September 2022. Thomas Muthoot, managing director of Muthoot Microfin, spoke to PTI on Wednesday from Kochi and said, "We are targeting an Rs1,500-1,800 crore IPO by the fourth quarter of 2023 and planned to file the IPO papers with the Sebi by May 2023." Our IPO would be the largest from the MFI sector, with a price range of Rs1,500—1,800 crore, according to Muthoot, who also added that Muthoot Microfin would be the first MFI to reach the Rs10,000crore AUM threshold by the time of listing.

Muthoot Microfin is owned by the Muthoot family and Muthoot Fincorp to the tune of 71%. Additionally, he said, Chicago-based private equity fund Creation and London-based private equity firm GPC each control 9.3 % and 16.6 %, respectively of the company.

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