Muthoot Microfin files preliminary papers for ₹1,350- crore IPO
The company, part of the Muthoot Pappachan Group, had a gross loan portfolio of ₹9,208.29 crore at the end of March 31.
Muthoot Microfin plans to raise up to ₹1,350 crore through an initial share sale and has filed draft papers with markets regulator SEBI.
The Initial Public Offering (IPO) of the company that provides micro loans to women customers will comprise a fresh issue worth up to ₹950 crore and an Offer For Sale (OFS) of equities to the tune of ₹400 crore.
According to the Draft Red Herring Prospectus (DRHP) filed on Friday, the company will also look at pre-IPO placement to raise ₹190 crore. If that placement is undertaken, the size of the fresh issue will be reduced.