Muthoot Microfin, a part of the Muthoot Pappachan Group, is a microfinance institution providing micro-loans to women customers (primarily for income generation purposes) with a focus on rural regions of India. The company is 4th largest NBFC-MFI in India in terms of gross loan portfolio as of December 31, 2022.
As of March 31, 2023, the company had a gross loan portfolio worth ₹ 92,082.96 million.
As of March 31, 2023, Muthoot Microfin served 2.77 million customers in 1,172 branches across 321 districts in 18 Indian states and union territories with the help of 10,227 employees.
Company’s loan products comprise:
- Group loans, Pragathi loans and individual loans;
- Life betterment solutions
- Health and hygiene loans and
- Secured loans in the form of gold loans and the Muthoot Small & Growing Business (“MSGB”) loans.
The company also offered digital healthcare facilities through “e-clinics”. As of March 31, 2023, they have set up 358 e-clinics; and 41.60% of their customers have enrolled in their e-clinics, and they have facilitated 198,826 medical consultations and 78,801 teleconsultations.
Muthoot Microfin IPO – Details
| IPO Opening Date | 18 December 2023 |
| IPO Closing Date | 20 December 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 3,29,89,690 Shares Worth ₹960.00 Crore Fresh Issue: 2,61,16,838 Shares Worth ₹760.00 Crore Offer For Sale: 68,72,852 Shares Worth ₹200.00 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹277 – ₹291 |
| Market Lot | 51 Shares |
| Min Order | 51 Shares (1 Lot) |
| Employee Discount | ₹14 |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Limited |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Muthoot Microfin IPO – Date Schedule
| IPO Open Date | 18 December 2023 |
| IPO Close Date | 20 December 2023 |
| Basis of Allotment Date | 21 December 2023 |
| Initiation of Refund | 22 December 2023 |
| Credit of Shares to Demat Account | 22 December 2023 |
| IPO Listing Date | 26 December 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on 20 December 2023 |
Muthoot Microfin IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 51 | 14,841 |
| Retail (Max) | 13 | 663 | 1,92,933 |
| S-HNI (Min) | 14 | 714 | 2,07,774 |
| S-HNI (Max) | 67 | 3417 | 9,94,347 |
| B-HNI (Min) | 68 | 3468 | 10,09,188 |
Competitive Strengths
- Market leadership with a pan-India presence;
- Rural focused operations, with a commitment towards health and social welfare of the customers;
- Brand recall and synergies with the Muthoot Pappachan Group;
- Robust risk management framework leading to healthy portfolio quality;
- Streamlined operating model with effective use of technology;
- Access to diversified sources of capital and effective cost of funds;
- Experienced and Professional Management, with Strong Corporate Governance.
Company Promoters
- Thomas John Muthoot
- Thomas Muthoot
- Thomas George Muthoot
- Preethi John Muthoot
- Remmy Thomas
- Nina George
- Muthoot Fincorp Limited
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 696.28 | 687.22 | 7.05 | 3015.66 |
| 31 March 2022 | 842.94 | 778.22 | 47.39 | 3996.61 |
| 31 March 2023 | 1446.34 | 1233.47 | 163.88 | 6493.18 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 11.06% |
| Debt/Equity | 3.99 |
| EPS (Rs) | 11.98 |
| RoNW | 10.08% |
Object Of The Issue
- The Company proposes to utilise the Net Proceeds from the Fresh Issue towards augmenting the capital base to meet future capital requirements.
- The main objects and objects incidental and ancillary to the main objects set out in the Memorandum of Association enable the company:
- To undertake our existing business activities, and
- To undertake the activities proposed to be funded from the Net Proceeds. Further, the Company expects to receive the benefits of listing the Equity Shares on the Stock Exchanges, including enhancing the brand image among existing and potential customers and creating a public market for the Equity Shares in India.
Muthoot Microfin IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 10 | Equitas Small Finance Bank Limited | 20.29 |
| 2 | 10 | Ujjivan Small Finance Bank Limited | 9.33 |
| 3 | 10 | CreditAccess Grameen Limited | 32.47 |
| 4 | 10 | Spandana Sphoorty Financial Limited | 551.18 |
| 5 | 10 | Bandhan Bank Limited | 15.59 |
| 6 | 10 | Suryoday Small Finance Bank Limited | 21.73 |
| 7 | 10 | Fusion Micro Finance Limited | 13.46 |
Muthoot Microfin IPO Promoter Holding
| Pre Issue Share Holding | 69.08% |
| Post Issue Share Holding | 55.47% |
Muthoot Microfin IPO Prospectus
Company Contact Information
| Muthoot Microfin Limited 13th Floor, Parinee Crescenzo, Bandra Kurla Complex Bandra East, Mumbai 400 051, Phone: +91 48 4427 7500 Email: info@muthootmicrofin.com Website: https://muthootmicrofin.com/ |
Muthoot Microfin IPO Registrar
| Kfin Technologies Limited Phone: 04067162222, 04079611000 Email: muthoot.ipo@kfintech.com Website: https://kosmic.kfintech.com/ipostatus/ |
Muthoot Microfin IPO Lead Manager(s)
| 1. ICICI Securities Limited 2. Axis Capital Limited 3. JM Financial Limited 4. SBI Capital Markets Limited |
Muthoot Microfin IPO FAQs
| What is Muthoot Microfin IPO? Muthoot Microfin IPO is a main-board IPO. The issue is priced at ₹277 to ₹291 per equity share. The IPO is to be listed on BSE & NSE. |
| When Muthoot Microfin IPO will open? The IPO is to open on 18 December 2023 for QIB, NII, and Retail Investors. |
| What is Muthoot Microfin IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Muthoot Microfin IPO? You can apply Muthoot Microfin IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Muthoot Microfin IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Muthoot Microfin”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Muthoot Microfin IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Muthoot Microfin“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Muthoot Microfin IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Muthoot Microfin”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Muthoot Microfin IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Muthoot Microfin”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Muthoot Microfin IPO Size? Muthoot Microfin IPO size is ₹960.00 Crore. |
| What is Muthoot Microfin IPO Price Band? Muthoot Microfin IPO Price Band is ₹277 to ₹291. |
| What is Muthoot Microfin IPO Minimum and Maximum Lot Size? The minimum bid is 51 Shares with ₹14,841 amount while the maximum bid is 663 Shares with ₹1,92,933. |
| What is the Muthoot Microfin IPO Allotment Date? Muthoot Microfin IPO allotment date is 21 December 2023. |
| What is the Muthoot Microfin IPO Listing Date? Muthoot Microfin IPO listing date is 26 December 2023. The IPO is to list on BSE and NSE. |
