The microfinance arm of the Muthoot Pappachan Group, Muthoot Microfin has filed papers with SEBI for an initial public offer of Rs 1,350 crore. The company provides micro loans to women customers, and is promoted by Muthoot Fincorp.

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The microfinance firm had earlier filed draft papers with SEBI in 2018.

Muthoot Microfin's Rs 1,350 crore initial public offering (IPO) of the company that provides micro loans to women customers will comprise a fresh issue worth up to Rs 950 crore and an offer for sale f Rs 400 crore, where promotors, and investors will sell stake. Greater Pacific Capital WIV Ltd will sell stake worth Rs 100 crore, Thomas John Muthoot, Thomas Muthoot and Thomas George Muthoot will sell stake worth Rs 70 crore each, while Preethi John Muthoot, Remmy Thomas and Nina George will sell Rs 30 crore.

ICICI Securities, Axis Capital, JM Financial and SBI Capital Markets are the Book Running Lead Managers to the issue.

According to the company's Draft Red Herring Prospectus (DRHP) filed with SEBI, the company will also look at pre-IPO placement to raise Rs 190 crore. The company has stated that if the placement is undertaken, the size of the fresh issue will be reduced accordingly.

The company plans to use proceeds from the fresh issue for augmenting its capital base to meet future capital requirements.

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First Published:Jul 1, 2023 6:22 PM IST