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Muthoot Microfin Limited Files DRHP with SEBI

In Business
July 03, 2023

KOCHI:
Muthoot Microfin Limited, a microfinance institution providing micro-loans to women customers with a focus on rural regions of India, has filed its Draft Red Herring prospectus with the Securities and Exchange Board of India (SEBI).

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).

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”).

The offer for sale of equity shares comprises of shares aggregating up to Rs. 70 crores by Thomas John Muthoot, equity shares aggregating up to Rs. 70 crores by Thomas Muthoot, equity shares aggregating up to Rs. 70 crores by Thomas George Muthoot, equity shares aggregating up to Rs. 30 crores by Preethi John Muthoot, equity shares aggregating up to Rs. 30 crores by Remmy Thomas and equity shares aggregating up to Rs. 30 crores by Nina George (collectively, the “promoter selling shareholders”) and equity shares aggregating up to Rs. 100 crores by Greater Pacific Capital WIV Ltd (the “investor selling shareholder” and collectively with the promoter selling shareholders referred to as the “selling shareholders”) and such equity shares offered by the selling shareholders (“offer for sale”, and together with the fresh issue, the “offer”).

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