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IPO Update: Muthoot Microfin Limited receives final SEBI observations for their proposed IPO

*SEBI Link:*

Muthoot Microfin Limited, a microfinance institution providing micro-loans to women customers with a focus on rural regions of India has received final observations from SEBI for their proposed IPO.

The company plans to raise funds via Initial Public Offering through issue of equity shares of face value Rs. 10 each aggregating upto Rs. 1350 crore (The “Offer”), comprising of a fresh issue of equity shares aggregating up to Rs. 950 crores by the company (The “Fresh Issue”) and an Offer for sale aggregating up to Rs. 400 crores by Selling shareholders (The “Offer for Sale”).

Muthoot Microfin Limited is the fourth largest NBFC-MFI in India in terms of gross loan portfolio as of December 31, 2022 (Source: CRISIL Report) and is the third largest amongst NBFC-MFIs in 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 December 31, 2022 (Source: CRISIL Report).

*Book Running Lead Managers to the IPO:* ICICI Securities Limited, Axis Capital Limited, JM Financial Limited and SBI Capital Markets Limited.

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