Muthoot Microfin IPO – Review, Allotment status, Subscription, GMP & more
Last Updated Date: Dec 22, 2023Let’s have a detailed review of the company and analytics of the Muthoot Microfin IPO release date, IPO offer price, subscription, Muthoot Microfin Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 277 to Rs 291 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 51 Shares |
| Listing Date | December 26, 2023 |
| Offer for Sale | Rs 200.00 Cr. |
| Fresh Issue | Rs 760.00 Cr. |
| IPO Size | Rs 960.00 Cr. |
| Tick Size | 1 |
Muthoot Microfin IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Muthoot Microfin Share Price |
Muthoot Microfin IPO – Summary
They are a microfinance institution providing micro-loans to women customers (primarily for income generation purposes) with a focus on rural regions of India. They are the fifth largest NBFC-MFI in India in terms of gross loan portfolio as of March 31, 2023.
Also, they are the largest amongst NBFC-MFIsin South India in terms of gross loan portfolio, the largest in Kerala in terms of MFI market share, and a key player in Tamil Nadu with an almost 16% market share, as of March 31, 2023.
The Promoter of this company is THOMAS JOHN MUTHOOT, THOMAS MUTHOOT, THOMAS GEORGE MUTHOOT, PREETHI JOHN MUTHOOT, REMMY THOMAS, NINA GEORGE AND MUTHOOT FINCORP LIMITED. The lead manager of the issue is ICICI Securities Limited, Axis Capital Limited, JM Financial Limited, and SBI Capital Markets Limited, and the Registrar of this issue is KFin Technologies Limited.
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Muthoot Microfin IPO Date
The opening and closing dates of Muthoot Microfin IPO are December 18, 2023, and December 20, 2023, respectively.
Muthoot Microfin IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 18th Dec | 0.00x | 0.65x | 1.58x | 0.95x |
| 2nd Day – 19th Dec | 0.48x | 3.28x | 4.31x | 3.05x |
| 3rd Day – 20th Dec | 0.49x | 4.35x | 4.88x | 3.57x |
| Shares Offered or Net Issue | 6,529,210 | 4,896,907 | 11,426,117 | 22,852,234 |
The shares subscribed by the public will be updated here.
Muthoot Microfin IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Muthoot Microfin Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | December 21, 2023 |
| Refunds Initiation | December 22, 2023 |
| Credit of Shares to Demat Account | December 22, 2023 |
| Share Listing Date | December 26, 2023 |
Muthoot Microfin IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 277 to Rs 291
Muthoot Microfin IPO Equity Size
This Initial Public Issue of 32,989,690 Equity Shares of Rs.10 each for cash at a price of Rs 277 to Rs 291 per equity share aggregating to Rs.960.00 Cr.
Muthoot Microfin IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 26,116,838 Equity Shares of Rs.10/ each.
Issue Size: 32,989,690 Equity Shares of Rs.10 each, aggregating to Rs.960.00 Cr.
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Muthoot Microfin IPO – Live Performance
The listing date of this IPO is December 26, 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Muthoot Microfin Share Price |
Muthoot Microfin IPO Grey Market Premium
The Muthoot Microfin Limited IPO Grey Market Premium price is Rs 25, the Kostak rate is Rs NA and the Subject to Sauda is Rs NA.
Muthoot Microfin IPO – Company Overview
They are a part of the Muthoot Pappachan Group, a business conglomerate with a presence across financial services, automotive, hospitality, real estate, information technology infrastructure, precious metals and alternate energy sectors.
The Muthoot Pappachan Group has a history of over 50 years in the financial services business. They are the second largest company under the Muthoot Pappachan Group, in terms of AUM for the Financial Year 2023. MFL, the flagship company of the Muthoot Pappachan Group, holds 59.29% of the pre-offer Equity Share capital in their Company, on a fully diluted basis, as of the date of this Red Herring Prospectus.
Their relationship with the Muthoot Pappachan Group provides them with brand recall and significant marketing and operational benefits. Further, there are significant synergies between the financial services business of the group and their micro-finance business.
Muthoot Microfin IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | |||||
| 30-Sep-23 | 30-Sep-22 | Mar-23 | 31-Mar-22 | 31-Mar-21 | |
| Total Assets |
1,00,312.99
|
70,190.86
|
85,291.99
|
55,914.58
|
41,838.48
|
| *Total Revenue |
10,423.27
|
6,047.42
|
14,287.64
|
8,325.06
|
6,841.67
|
| Total Expense |
7,726.27
|
5,981.97
|
12,334.74
|
7,782.20
|
6,872.26
|
| Profit After Tax |
2,052.57
|
124.66
|
1,638.89
|
473.98
|
70.54
|
Earnings per Equity Share (in Million)
| 30-Sep-23 | 30-Sep-22 | Mar-23 | 31-Mar-22 | 31-Mar-21 | |
| Basic & Diluted |
17.57
|
1.09
|
14.19
|
4.15
|
0.62
|
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 1,638.89 Million, Rs. 473.98 Million and Rs. 70.54 Million respectively.
Muthoot Microfin IPO – Promoters
The Promoter of this company is:
- THOMAS JOHN MUTHOOT,
- THOMAS MUTHOOT,
- THOMAS GEORGE MUTHOOT,
- PREETHI JOHN MUTHOOT,
- REMMY THOMAS,
- NINA GEORGE
- MUTHOOT FINCORP LIMITED
List of Related Parties (Key Managerial Personnel)
- Thomas Muthoot, Managing Director
- Thomas John Muthoot, Non–Executive Director
- Thomas George Muthoot, Non-Executive Director
- Akshaya Prasad, Non-Executive Director
Muthoot Microfin IPO – Promoters Holding
- Pre-Issue Share Holding – 69.08%
- Post-Issue Share Holding – 55.47%
Muthoot Microfin IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 32,989,690 Equity Shares aggregating up to Rs.[●] Million |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 144,357,971 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Muthoot Microfin IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
-
To undertake their existing business activities; and
-
To undertake the activities proposed to be funded from the Net Proceeds
Muthoot Microfin IPO – Business Strategy
-
Expand their geographical footprint and sourcing platform across India
- Continue to Enhance Information Technology with a Focus on Customer Service
-
Leverage their existing branch network to expand their customer base and gross loan portfolio
-
Diversifying their Sources of Funds
Muthoot Microfin IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
-
Market leadership with a pan-India presence;
-
Rural focused operations, with a commitment towards the health and social welfare of their customers;
-
Brand recall and synergies with the Muthoot P appachan Group;
-
Robust risk management framework leading to healthy portfolio quality;
-
Streamlined operating model with effective use of technology;
-
Access to diversified sources of capital and effective cost of funds; and
-
Experienced and Professional Management, with Strong Corporate Governance and support from Promoters and Investors.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 |
14.19
|
10.08
|
112.63
|
| 31-Mar-22 |
4.15
|
3.55
|
97.74
|
| Mar-21 |
0.62
|
0.79 |
77.94
|
Muthoot Microfin IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Muthoot Microfin Limited | 10 | [●] |
14.19
|
10.08%
|
14,463.44
|
| Listed Peers | |||||
| Equitas Small Finance Bank Limited | 10 |
2.04
|
4.71
|
11.12%
|
48,314.64
|
| Ujjivan Small Finance Bank Limited | 10 |
2.70
|
5.88
|
27.79%
|
47,541.90
|
| CreditAccess Grameen Limited | 10 |
5.15
|
52.04
|
16.18%
|
35,507.90
|
Muthoot Microfin IPO Lead Managers
| Lead Managers |
| ICICI Securities Limited Axis Capital Limited JM Financial Limited SBI Capital Markets Limited |
Muthoot Microfin IPO Registrar to offer
| Registrar to the Offer |
| KFin Technologies Limited Selenium, Tower B, Plot No. 31 and 32, Gachibowli, Financial District Nanakramguda, Serilingampally Hyderabad 500 032 Telangana, India Tel: +91 40 6716 2222 E-mail: muthoot.ipo@kfintech.com Investor grievance e-mail: einward.ris@kfintech.com Website: www.kfintech.com Contact Person: M. Murali Krishna SEBI Registration No.: INR000000221 |
Muthoot Microfin IPO – Other Details
- Statutory Auditor – Sharp & Tannan Associates, Chartered Accountants
- Legal Counsel to the Company – Cyril Amarchand Mangaldas
- Bankers to the Company – Axis Bank Limited, HSBC Limited, Bank of Baroda etc
Muthoot Microfin IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Muthoot Microfin Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Muthoot Microfin IPO Review FAQs
Check out various FAQs related to Muthoot Microfin IPO:
What is the Issue Size of Muthoot Microfin IPO?
The Company is making an initial public offer of 32,989,690 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Muthoot Microfin IPO?
The price band for this particular IPO ranges between Rs 277 to Rs 291. As far as the face value of the share is concerned, it is Rs. 10 per share.
What is the Muthoot Microfin IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on December 18, 2023, while the closing date is set at December 20, 2023.
What is the Muthoot Microfin IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on December 21, 2023, refund initiation is on December 22, 2023, credit of shares is on December 22, 2023, and share listing date is on December 26, 2023.
What is the Muthoot Microfin IPO Listing Date?
Shares of this company shall be listed in the exchanges on December 26, 2023. The date, when the listing would be done, is stagnant on December 26, 2023.
Who is the Registrar of Muthoot Microfin IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. KFin Technologies Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Muthoot Microfin IPO?
Here are the promoters of this IPO – THOMAS JOHN MUTHOOT, THOMAS MUTHOOT, THOMAS GEORGE MUTHOOT, PREETHI JOHN MUTHOOT, REMMY THOMAS, NINA GEORGE AND MUTHOOT FINCORP LIMITED. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Muthoot Microfin IPO?
They have obtained the GMP of this IPO and it is Rs 60. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Muthoot Microfin IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Muthoot Microfin Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is 1,638.89, 2022 is 473.98, and 2021 is 70.54. PAT from Sep 2023 is 2,052.57.
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