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Muthoot Microfin, an institution providing microloans to women customers with a focus on rural regions, has received final observations from SEBI for their proposed IPO.
The company plans to raise ₹1,350 crore through the initial offer. It comprises a fresh issuance of shares aggregating to ₹950 crore and an offer for sale of ₹400 crore.
Muthoot Microfin is the fourth largest NBFC-MFI in terms of gross loan portfolio as of December and the third largest among NBFC-MFIs in south India in terms of gross loan portfolio. It is the largest in Kerala in terms of MFI market share and a key player in Tamil Nadu with an almost 16 per cent market share, as of last December-end.
ICICI Securities, Axis Capital, JM Financial, and SBI Capital Markets are the Book Running Lead Managers for the IPO.
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