Muthoot Microfin Unveils IPO Details: Subscription Window Open from December 18-20
Muthoot Microfin, a Kochi-based microfinance institution, discloses intricate details of its ₹960 crore IPO. Subscription available from December 18 to 20, featuring a price band of ₹277-291 per equity share. Key highlights include lot size, promoters' equity sale, and crucial dates.
Muthoot Microfin, the Kochi-based microfinance institution, has revealed comprehensive details about its upcoming Initial Public Offering (IPO). The IPO, valued at ₹960 crore, is set to be open for subscription from December 18 to 20, with a price band fixed at ₹277-291 per equity share.
Key Highlights:
- IPO subscription window: December 18 to 20
- Price band: ₹277-291 per equity share
- Floor price: 27.70 times face value
- Cap price: 29.10 times face value
- Lot size: 51 equity shares, with multiples of 51 thereafter
IPO Size and Composition: Muthoot Microfin aims to raise ₹960 crore through the IPO, comprising ₹760 crore for a fresh issue of shares and ₹200 crore through an offer for sale (OFS) of equity shares. The face value of each equity share is ₹10.
Promoters' Equity Sale: Prominent promoters, including Thomas John Muthoot, Thomas Muthoot, Thomas George Muthoot, Preeti John Muthoot, Remmy Thomas, and Nina George, will collectively sell shares as part of the IPO. The individual stakes range from ₹16.36 crore to ₹33.76 crore.
Important Dates:
- Subscription opening: December 18
- Subscription closing: December 20
- Allotment of shares: Expected on December 21
- Refunds and demat account credits: December 22
- IPO share listing: Anticipated on December 26
Share Reservation: Muthoot Microfin has reserved 50% of shares for qualified institutional buyers (QIBs), a minimum of 15% for non-institutional investors (NIIs), and a maximum of 35% for retail investors. Eligible employees participating in the employee portion will enjoy a discount of ₹14 per equity share.
Utilization of Net Proceeds: The microfinance institution intends to bolster its capital base, utilizing the net proceeds to meet future capital requirements.
Investors and stakeholders are encouraged to mark their calendars for the subscription window and subsequent key dates as Muthoot Microfin navigates this pivotal phase toward going public. Stay tuned for further developments on this dynamic financial opportunity.
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