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Muthoot Microfin Limited, a microfinance institution providing micro-loans to women with a focus on rural areas, has filed the draft red herring prospectus for its initial public offering (IPO) with the Securities and Exchange Board of India (SEBI).
Muthoot Microfin is the fourth largest NBFC-MFI in India in terms of gross loan portfolio as of December 2022, and the the third largest NBFC-MFI in South India. It is the largest in Kerala in terms of MFI market share, and has 16 per cent market share in Tamil Nadu.
The company plans to raise up to ₹1,350 crore via the IPO, which will include fresh issue of shares worth ₹950 crore and an offer-for-sale (OFS) aggregating up to ₹400 crores by existing shareholders.
The OFS comprises sale of shares aggregating up to ₹70 crore each by Thomas John Muthoot, Thomas Muthoot, and Thomas George Muthoot. It also includes sale of shares worth up to ₹30 crore each by Preethi John Muthoot, Remmy Thomas and Nina George as a part of the promoter group. Further, Greater Pacific Capital WIV will sell shares of up to ₹100 crore.
ICICI Securities, Axis Capital, JM Financial and SBI Capital Markets are the Book Running Lead Managers to the issue.
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