Muthoot Microfin was incorporated on 6 April 1992. It is a microfinance institution providing micro-loans to women customers, primarily for income generation purposes, with a focus on rural regions of India. As of 31 December 2022, it is the fourth largest NBFC-MFI in India in terms of gross loan portfolio.
| Bidding Dates |
|---|
| 18 Dec 2023 - 20 Dec 2023 |
| Subscription |
|---|
| 11.52x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,127 | 1 | 13 | 51 | 33.0 M | ₹277 - ₹291 | 54.46 % | ₹9138.1 M - ₹9600.0 M | RHP DOC |
Muthoot Microfin IPO SUBSCRIPTION STATUS
20 Dec '23Muthoot Microfin IPO overall subscription rate was 11.52 times the total available shares
Muthoot Microfin IPO retail subscription rate was 7.61 times in the retail segment
Muthoot Microfin IPO non-institutional investor subscription rate was 13.2 times in the non-institutional investor category
Muthoot Microfin IPO Qualified Institutional Bidder subscription rate was 17.47 times the available shares for Qualified Institutional Bidder
Muthoot Microfin IPO Employees subscription rate was 4.95 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 35% | 15% | 50% | - |
20 Dec 2023 (Day 3) | 7.61x | 13.2x | 17.47x | 4.95x |
19 Dec 2023 (Day 2) | 4.05x | 3.11x | 0.46x | 2.42x |
18 Dec 2023 (Day 1) | 1.37x | 0.61x | 0x | 1.24x |
Muthoot Microfin FINANCIALS
| Period | Net Profit (Rs in millions) | Interest Income (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| H1FY24 | 2,052.6 | 9,135.8 | -13,457.8 | -13,573.3 |
| H1FY23 | 124.7 | 5,624.1 | -10,178.9 | -10,299.6 |
| FY23 | 1,638.9 | 12,906.5 | -23,328.8 | -23,610.6 |
| FY22 | 474.0 | 7,286.2 | -10,835.8 | -10,949.8 |
| FY21 | 70.5 | 6,227.8 | -7,039.6 | -7,119.1 |
Muthoot Microfin IPO SUBSCRIPTION STATUS DETAILS
Muthoot Microfin had 33.0 M shares on offer
Muthoot Microfin IPO offer price was in the range ₹277 - ₹291
Muthoot Microfin IPO minimum Investment was ₹14127
Muthoot Microfin IPO issue size was ₹ 9138.1 M - ₹ 9600.0 M
Muthoot Microfin had a minimum lot size of 51 Shares per application
Muthoot Microfin NUMBER OF SHARES ON OFFER
Muthoot Microfin IPO IMPORTANT DATES
| Issue Open Date | 18 Dec 2023 |
| Issue close Date | 20 Dec 2023 |
| Allotment Date | 21 Dec 2023 |
| Refund Date | 22 Dec 2023 |
| Demat Account Credit Date | 22 Dec 2023 |
| Listing Date | 26 Dec 2023 |
| Listing on Exchange(s) | NSE and BSE |
| Muthoot Microfin Allotment Status | Exchange |
Muthoot Microfin IPO subscription opened on 18 Dec 2023, and closed on 20 Dec 2023
IPO allotment for Muthoot Microfin was finalized on Thursday, 21 Dec 2023
IPO listing for Muthoot Microfin was on NSE and BSE on Tuesday, 26 Dec 2023
Muthoot Microfin IPO LISTING GAINS
| Issue Price (adjusted) | 291.0 |
| Listing Open Price | 275.3 |
| Listing Close Price | 266.1 |
| Listing Gain% | -5.4% |
| Current Gain% | -26.3% |
Muthoot Microfin Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Muthoot Microfin Ltd. | 214.5 | 3656.9 | 14.9 | 0.1 | 1.5 | 6 | 1.3 | 2380.7 | -7.2 | 170.3 | 176.5 | 14.4 | 174.5 |
| Au Small Finance Bank Ltd. | 1057.7 | 79320.2 | 27.8 | 0.9 | 4.1 | 13.2 | 1.4 | 21614.3 | 16.3 | 2641.3 | 25.4 | 38.1 | 30.8 |
| CreditAccess Grameen Ltd. | 1546.1 | 24801.2 | 20.5 | 0 | 3.9 | 9.9 | 2.4 | 6062.5 | 5.3 | 777.6 | 46.3 | 75.5 | 524.3 |
| Ujjivan Small Finance Bank Ltd. | 70.8 | 13795.7 | 15.2 | 0.2 | 1.9 | 10.2 | 1.2 | 8039 | 11.6 | 692.6 | -4.6 | 4.6 | 71.5 |
| Equitas Small Finance Bank Ltd. | 75.6 | 8642.4 | 16.9 | 0 | 1.2 | 1.7 | 0.2 | 7867.8 | 8.9 | 103.1 | -29.9 | 4.5 | 598.1 |
| Jana Small Finance Bank Ltd. | 529 | 5591.8 | 14.7 | -1.2 | 1 | 7.3 | 0.7 | 6374.8 | 16.2 | 326.4 | -34.9 | 35.9 | -12.3 |
Muthoot Microfin INFORMATION ON IPO ISSUE
About Muthoot Microfin
Muthoot Microfin was incorporated on 6 April 1992. It is a microfinance institution providing micro-loans to women customers, primarily for income generation purposes, with a focus on rural regions of India. As of 31 December 2022, it is the fourth largest NBFC-MFI in India in terms of gross loan portfolio.
Object of the Issue
- To utilise the net proceeds from the fresh Issue towards augmenting the capital base to meet future capital requirements
Muthoot Microfin - PROMOTERS
| Name |
|---|
| Thomas John Muthoot |
| Thomas Muthoot |
| Thomas George Muthoot |
| Preethi John Muthoot |
| Remmy Thomas |
| Nina George |
| MFL |
Muthoot Microfin Book Running Lead Manager
ICICI Securities Limited
mmflipo@icicisecurities.com
Axis Capital Limited
mmfl.ipo@axiscap.in
JM Financial Limited
muthootmicrofin.ipo@jmfl.com
SBI Capital Markets Limited
mml.ipo@sbicaps.com
Muthoot Microfin Registrar to the Offer
KFinTechnologies Private Limited
muthoot.ipo@kfintech.com
Muthoot Microfin Strengths
Pan-India presence
As of 31 December 2022, it is the fourth largest NBFC-MFI in India in terms of gross loan portfolio. As of 31 March 2023, it has a well-diversified portfolio across 321 districts in 18 states and union territories in India
Rural focused operations
The company has rural-focused operations and is committed to the health and social welfare of its customers
Streamlined operating model
The company has designed a streamlined and scalable operating model, developing technology-led systems and solutions for its operations. As of 31 March 2023, it had 87 members in its information technology team, responsible for developing and maintaining its in-house information technology systems, data security systems, and technological infrastructure and applications
Muthoot Microfin Risks
Risks associated with lending
The microfinance industry in India faces unique risks due to the category of customers it services, which are not typically associated with other forms of lending. As a result, it may experience increased levels of non-performing assets, along with related provisions and write-offs
Geographic concentration
The company derives a significant portion of its revenues from South India, and any adverse developments in the southern states of India may have an adverse effect on the business
Negative cash flows
The company has experienced negative cash flows from operating, investing, and financing activities in the past and may continue to experience this in the future
IPO FAQs
This IPO consists of an offer for sale of up to Rs 200.0 crore, of 6,872,852 shares. It also consists of a fresh issue of Rs 760.0 crore.
The promoters of the company are Thomas John Muthoot, Thomas Muthoot, Thomas George Muthoot, Preethi John Muthoot, Remmy Thomas, Nina George and MFL.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 277.0 - 291.0.
The IPO application opens on Dec 18, 2023 and closes on Dec 20, 2023.
The minimum lot size for the IPO is 51. The maximum lot size for the IPO is 663.
For all category investors, the minimum application amount for this IPO is Rs. 14,127.0, the maximum value for this IPO is Rs 192,933.0.
This IPO will be allotted on Dec 21, 2023.
The refund will be credited to your account on Dec 22, 2023.
The allotted shares will be credited to your demat on Dec 22, 2023.
Muthoot Microfin Ltd.’s shares listed on the stock exchanges on Dec 26, 2023.