Muthoot Microfin IPO highlights: ₹960-cr issue opens, day 1 bidding underway
Muthoot Microfin IPO highlights: Investors can bid for company shares till December 20.
Muthoot Microfin IPO highlights: Monday is the opening day of the initial public offering (IPO) of the Kochi-based Muthoot Microfin Limited, and day 1 bidding of the offering – the public issue is scheduled to close on December 20 -- is underway. Through the exercise, the company aims to raise ₹960 crore, and, with the net proceeds, Muthoot Microfin intends to increase its capital base in order to meet future capital requirements.
The Muthoot Microfin IPO is among seven public offerings that will open for subscription this week. The other IPOs opening this week are those of Motison Jewellers, Suraj Estate Developers, Happy Forgings, Credo Brands, RBZ Jewellers, and Azad Engineering. These are worth ₹151 crore, ₹400 crore, ₹1008 crore, ₹550 crore, ₹100 crore, and ₹740 crore, respectively.
Follow all the updates here:
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Dec 18, 2023 02:51 PM IST
Muthoot Microfin operates 1,340 branches across 18 states
Muthoot Microfin, the Thiruvananthapuram-headquartered company operates 1,340 branches across 339 districts spanning 18 states and employees 12,290 people. It had added 260 branches last fiscal and has already opened 160 this fiscal so far, apart from adding 4 lakh customers till September this fiscal, while in the whole of last fiscal it had added 7 lakh customers
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Dec 18, 2023 02:25 PM IST
Muthoot Microfin shares trading at ₹70 in grey market
Muthoot Microfin shares trading at ₹70 in grey market. The IPO has been opened for subscription
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Dec 18, 2023 01:37 PM IST
Muthoot Microfin IPO Subscription Status Live: Issue subscribed 29% so far, reports Moneycontrol
Till now, the IPO has been subscribed 29%, said Moneycontrol, adding that bids have come in for 70.54 lakh shares as against an issue size of 2.43 crore shares.
Retail investors bought 51% of their allotted quota of shares, NIIs 14%, while the employees' portion was booked 53%.
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Dec 18, 2023 01:16 PM IST
Muthoot Microfin IPO Subscription Status Live: Issue subscribed 0.47 times, says Mint
Mint reports that as of 12:03 pm on the first day of bidding, the issue has been subscribed 0.27 times, and its retail portion, 0.47 times. The NII portion has been booked 0.13 times.
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Dec 18, 2023 12:56 PM IST
Muthoot Microfin IPO Subscription Status Live: Latest status
According to Chittorgarh.com, the public issue is subscribed 0.35 times on day 1 of bidding. It is subscribed 0.60 times in the retail category, 0 times in the QIB category, and 0.17 times in the NII category.
As per ET Now, on the other hand, till 12.05 pm, it has been subscribed 0.30 times, while the NII portion has received a subscription of 0.14 times, and the retail investor’s category booked 0.51 times.
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Dec 18, 2023 12:20 PM IST
Muthoot Microfin IPO Subscription Status Live: What is the share reservation for various categories?
The public issue is offering sale of 2,28,52,234 shares. Of these, 65,29,210 (28.57%) are reserved for qualified institutional buyers (QIBs); 48,96,907 (21.43%) for non-institutional investors (NIIs); and 1,14,26,117 (50%) to retail investors.
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Dec 18, 2023 12:00 PM IST
Muthoot Microfin IPO Subscription Status Live: Know about Suraj Developers Limited IPO
Suraj Estate Developers Limited's IPO (initial public offering) opens for subscription on Monday, and Wednesday is the last day to subscribe to the issue. The offering is worth ₹400 crore; i.e., the Mumbai-based real estate firm aims to raise ₹400 crore through the exercise, which it will utilise for various purposes. Read
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Dec 18, 2023 11:29 AM IST
Muthoot Microfin IPO Subscription Status Live: How has Motisons Jewellers IPO opened?
According to topsharebrokers.com, the grey market premium of Motisons Jewellers IPO is currently trading at ₹120.
The company is planning to use proceeds from the IPO for debt payment, funding the working capital requirement of the company and a portion will also be used for general corporate purposes. Read
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Dec 18, 2023 11:07 AM IST
Muthoot Microfin IPO Subscription Status Live: When are other IPOs opening?
December 18: Suraj Estate Developers Limited, Motisons Jewellers
December 19: Credo Brands, Happy Forgings,, RBZ Jewellers
December 20: Azad Engineering
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Dec 18, 2023 10:36 AM IST
Muthoot Microfin IPO Subscription Status Live: Issue subscribed 0.06 times
According to Mint, the public issue has been subscribed 0.06 times by 10:24 am, on day of bidding, while the retail portion stands subscribed 0.15 times. The NII portion, on the other hand, has received a subscription of 0.04 times.
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Dec 18, 2023 10:10 AM IST
Muthoot Microfin IPO Subscription Status Live: What do others say?
The Muthoot Microfin has received a ‘subscribe’ tag from Anand Rathi, Swastika Investmart as well. On the other hand, Ashika Research, HDFC Securities, SBI Securities have not rated the public issue.
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Dec 18, 2023 09:51 AM IST
Muthoot Microfin IPO Subscription Status Live: To subscribe or not?
‘Subscribe for medium to long term,’ says Shreyansh Shah, Research Analyst at StoxBox.
"As the lender will utilise the net proceeds to augment its Tier-I capital base, its capital adequacy will enhance and lead to a stable leverage position. At the current P/BV multiple of 2.3x, we believe the company is fairly valued and advise investors to “Subscribe" from a medium to long-term perspective," Shah says to Mint.
(View of individual analyst)
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Dec 18, 2023 09:32 AM IST
Muthoot Microfin IPO Subscription Status Live: To subscribe or not?
‘Subscribe for listing gain,’ says Arun Kejriwal, Founder, Kejriwal Research and Investment Services.
“Microfinance companies are doing well on Dalal Street these days and the public issue may get benefit of this working theme. Hence, I am expecting positive debut of Muthoot Microfin shares on Dalal Street. However, the theme migt not work well after a certain period of time. So, my suggestion on investors is to apply for listing gains only becuase there might be some consolidation in Muthoot Microfin shares after listing,” Kejriwal tells Mint.
(View of individual analyst)
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Dec 18, 2023 09:13 AM IST
Muthoot Microfin IPO Subscription Status Live: When will shares be allotted, and listed on BSE and NSE?
The most likely date for the allotment of shares is December 21, going by the T+3 listing rule; the tentative date for listing on the stock exchanges, on the other hand, is December 26.
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Dec 18, 2023 08:49 AM IST
Muthoot Microfin IPO Subscription Status Live: Issue shares at premium of ₹82 in grey market
Ahead of opening, the Muthoot Microfin IPO shares are at a premium of ₹82 in the grey market, as per Mint. A GMP is an additional amount at which a company's shares are traded in the ‘unofficial market’ before debuting officially on the stock exchanges.
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Dec 18, 2023 08:33 AM IST
Muthoot Microfin IPO Subscription Status Live: Company profile
Founded in 1992, Muthoot Microfin provides micro-loans to customers – primarily women – with a focus on the country's rural regions. Its parent organisation is the Muthoot Pappachan Group.
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Dec 18, 2023 08:11 AM IST
Muthoot Microfin IPO Subscription Status Live: Lead managers of the issue
While ICICI Securities, Limited, Axis Capital Limited, Jm Financial Limited and SBI Capital Markets Limited are the book running lead managers, Kfin Technologies Limited is the registrar for the issue.
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Dec 18, 2023 07:56 AM IST
Muthoot Microfin IPO Subscription Status Live: What is the lot size?
Investors can bid for a minimum of 51 equity shares, and in multiples of 51 after that. Therefore, the minimum investment for retail investors, will be ₹14,127 (51 (lot size) x 277 (lower price band). At the upper band, meanwhile, the bidding amount will increase to ₹14,841.
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Dec 18, 2023 07:37 AM IST
Muthoot Microfin IPO Subscription Status Live: ₹960-crore issue available for bidding from today
The company has fixed the price band at ₹277-291 per share. The IPO consists of a fresh issue of ₹760 crore and an offer for sale (OFS) of ₹200 crore; under the OFS, promoters Thomas John Muthoot, George Muthoot, Preethi John Muthoot, Remmy Thomas, and investor Greater Pacific Capital will offload their respective shares.
Muthoot Microfin IPO highlights: ₹960-cr issue opens, day 1 bidding underway - Hindustan Times
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