Muthoot Finance is a prominent name in the finance background. The company successfully files DRHP papers with SEBI for raising an IPO for Rs. 1,300 Crore. We will share details about Muthoot Finance’s upcoming IPO below. The company provides several financial services like money transfer, PAN Card, foreign exchange, leasing, and other cashless solutions to the users. The company turned public limited and will release its IPO for Rs. 1,300 crore soon. Keep reading to explore Muthoot Finance’s new IPO below.
Muthoot Finance Files DRHP Papers to SEBI
Muthoot Finance files DRHP papers to SEBI. The company is looking forward to further expansion. The company is looking to raise Rs. 1,300 Crore from the market. Muthoot will have both fresh issues of equity shares and offer-for-sale as well. The fresh equity shares will be worth Rs. 1,000 crore. While the Offer-For-Sale will be Rs. 300 Crore.
Of these 300 Crores, 175 Crores worth of shares will be from MAJ, Rs. 97 Crores worth of shares will be from Arun Holdings, and Rs. 28 Crores worth of shares will be from Augusta Investments Zero Pte Ltd. It will be a great opportunity for investors looking for a better deal.
The company is doing financially well. Starting from 1997, the company has been working on providing financial services to users. There have been more than three decades of success by the company. Muthoot Finance can expect an IPO by August 2024. Everyone is curious to know more about the release of the IPO date. However, it will be finalized only after SEBI’s approval.
Muthoot Finance will be providing both offers for sale and fresh equity shares. The company will be utilizing the investment for different purposes. Some parts will be utilized for further expansion in the country while others will be utilized for other purposes. However, the company has not specified the use yet. Muthoot Finance is a leading company in the sector.
Muthoot Finance Ltd. is expected to have a price band of Rs. 160-175. However, it is yet unsure. The company is looking forward to more growth over the years. Its financial performance is also well. It expects to perform better in the upcoming month. Muthoot Finance has a market cap between Rs. 5,974 crores to Rs. 6,505 Crores.
The issue will be for Rs. 1,300 Crores. If the price band remains the same, the grey market can be expected at approx Rs. 32-35. We hope you get enough details about Muthoot Finance’s upcoming IPO above. Stay tuned for more information on our website.