- Price Band fixed at ₹277 to ₹291 per equity share of face value of ₹10 each
- Bid/ Offer will open on Monday, December 18, 2023 and close on Wednesday, December 20, 2023
- Bids can be made for a minimum of 51 Equity Shares and in multiples of 51 Equity Shares thereafter
NE BUSINESS BUREAU
AHMEDABAD, DEC 17
Muthoot Microfin Limited has, on Saturday, allotted 97,93,812 equity shares to 26 anchor investors and raised ₹284.99 crore ahead of company’s proposed IPO at the upper price band of ₹291 per equity share, including share premium of ₹281 per equity share, with face value of ₹10 per share.
Key anchor investors include, Morgan Stanley Asia (Singapore) Pte. , WCM International, JNL Multi Manager International, Clearwater International, ICICI Prudential Life Insurance, HDFC Life Insurance, Bajaj Alliance Life Insurance, Muthoot Finance Limited, SBI General Insurance, Kotak Mahindra Life Insurance, ICICI Lombard General Insurance and Reliance General Insurance.
The public issue will open for subscription on Monday, 18th December 2023 and will remain open fir bidding till Wednesday, 20th December 2023. This means, Muthoot Microfin IPO date of subscription has been fixed from Monday to Wednesday next week. The company has fixed Muthoot Microfin IPO price band at ₹277 to ₹291 per equity share and it aims to raise ₹960 crore from its public issue.
Investors can bid for a minimum of 51 shares and in multiples thereof.
About 50% of the net offer is reserved for qualified institutional buyers, 15% for non institutional investors and 35% for retail investors.
The company has reserved ₹10 crore worth of shares for its employees who will get those shares at a discount of ₹14 per share to the final issue price.
Muthoot Microfin IPO is a book built issue of ₹960 crores. The issue is a combination of fresh issue of 2.61 crore shares aggregating to ₹760 crores and offer for sale of 0.69 crore shares aggregating to ₹200 crores.
The promoters of the company are Thomas John Muthoot, Thomas Muthoot, Thomas George Muthoot, Preethi John Muthoot, Remmy Thomas, Nina George and Muthoot Fincorp Limited.
Muthoot Microfin Limited’s revenue increased by 71.58% and profit after tax (PAT) rose by 245.77% between the financial year ending with March 31, 2023 and March 31, 2022.
The net proceeds from the fresh issue will be deployed next year towards business expansion, onward lending and maintaining RBI-mandated capital adequacy levels. The microfinance lender has a CRAR higher than the statutory limit of 15%.
Muthoot Microfin IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, December 26, 2023.
ICICI Securities, Axis Capital, JM Financial, and SBI Capital Markets are the book-running lead managers to the issue, while KFin Technologies is the registrar.
The anchor allocation is as follows
| Sr. No | Name of Anchor Investor | No. of Equity Shares Allocated | % of Anchor Investor Portion | Bid Price (₹. per Equity Share) | Total Amount Allocated (₹) |
| 1 | WCM INTERNATIONAL SMALL CAP GROWTH FUND | 9,08,820 | 9.28% | 291.00 | 26,44,66,620.00 |
| 2 | JNL MULTI-MANAGER INTERNATIONAL SMALL CAP FUND | 5,21,322 | 5.32% | 291.00 | 15,17,04,702.00 |
| 3 | WCM INTERNATIONAL SMALL CAP GROWTH FUND L.P. | 5,03,472 | 5.14% | 291.00 | 14,65,10,352.00 |
| 4 | THE NORTH CAROLINA SUPPLEMENTAL RETIREMENT PLANS GROUP TRUST | 5,06,175 | 5.17% | 291.00 | 14,72,96,925.00 |
| 5 | CLEARWATER INTERNATIONAL FUND | 4,23,810 | 4.33% | 291.00 | 12,33,28,710.00 |
| 6 | FLORIDA RETIREMENT SYSTEM – ALLSPRING GLOBAL INVESTMENTS, LLC (EMSC) | 3,43,689 | 3.51% | 291.00 | 10,00,13,499.00 |
| 7 | ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED | 7,56,024 | 7.72% | 291.00 | 22,00,02,984.00 |
| 8 | HDFC LIFE INSURANCE COMPANY LIMITED | 7,56,024 | 7.72% | 291.00 | 22,00,02,984.00 |
| 9 | BAJAJ ALLIANZ LIFE INSURANCE COMPANY LTD. | 7,56,024 | 7.72% | 291.00 | 22,00,02,984.00 |
| 10 | MUTHOOT FINANCE LIMITED . | 10,30,965 | 10.53% | 291.00 | 30,00,10,815.00 |
| 11 | ACM GLOBAL FUND VCC | 5,15,508 | 5.26% | 291.00 | 15,00,12,828.00 |
| 12 | KOTAK MAHINDRA LIFE INSURANCE COMPANY LTD. | 5,15,508 | 5.26% | 291.00 | 15,00,12,828.00 |
| 13 | SBI GENERAL INSURANCE COMPANY LIMITED | 3,66,003 | 3.74% | 291.00 | 10,65,06,873.00 |
| 14 | ASTORNE CAPITAL VCC – ARVEN | 3,43,689 | 3.51% | 291.00 | 10,00,13,499.00 |
| 15 | MORGAN STANLEY ASIA (SINGAPORE) PTE. – ODI | 3,43,689 | 3.51% | 291.00 | 10,00,13,499.00 |
| 16 | ICICI LOMBARD GENERAL INSURANCE COMPANY LTD | 1,71,870 | 1.75% | 291.00 | 5,00,14,170.00 |
| 17 | RELIANCE GENERAL INSURANCE COMPANY LIMITED | 1,71,870 | 1.75% | 291.00 | 5,00,14,170.00 |
| 18 | CHOLAMANDALAM MS GENERAL INSURANCE COMPANY LTD | 1,71,870 | 1.75% | 291.00 | 5,00,14,170.00 |
| 19 | PRAMERICA LIFE INSURANCE LIMITED | 68,730 | 0.70% | 291.00 | 2,00,00,430.00 |
| 20 | PLIL LARGE CAP EQUITY FUND ULIF00427/08/08LARCAPFUND140 | 49,860 | 0.51% | 291.00 | 1,45,09,260.00 |
| 21 | PLIL PARTICIPATING NON-LINKED INDIVIDUAL LIFE FUND LIFE 00108/04/13 LIFETRADP140 | 50,880 | 0.52% | 291.00 | 1,48,06,080.00 |
| 22 | LARGE CAP ADVANTAGE FUND | 1,200 | 0.01% | 291.00 | 3,49,200.00 |
| 23 | FLEXICAP OPPORTUNITIES FUND | 1,200 | 0.01% | 291.00 | 3,49,200.00 |
| 24 | INTEGRATED CORE STRATEGIES (ASIA) PTE. LTD. | 1,71,870 | 1.75% | 291.00 | 5,00,14,170.00 |
| 25 | COPTHALL MAURITIUS INVESTMENT LIMITED – ODI ACCOUNT | 1,71,870 | 1.75% | 291.00 | 5,00,14,170.00 |
| 26 | SOCIETE GENERALE – ODI | 1,71,870 | 1.75% | 291.00 | 5,00,14,170.00 |
| Total | 97,93,812 | 100.00% | 2,84,99,99,292 | ||
