Muthoot Microfin IPO Day 1: Big entry in the market, 83% subscribed

Muthoot Microfin IPO Subscription Status

Muthoot Microfin IPO Day 1: Muthoot Microfin IPO has been subscribed 83% across all categories combined.

Among these, QIB (Qualified Institutional Buyers) did not give much response to this IPO. This IPO has been subscribed 0.1% in this category. QIB category includes big mutual fund companies, pension funds, insurance companies, banks etc.

This IPO has been subscribed 61% in NII (Non-Institutional Investors) category. NII means Indian Citizen, NRI (Non-Resident Indian), HUF- Karta of Hindu Undivided Family, Trust, Society etc. People who apply for more than 2 lakh shares.

Now what is left are common people like us i.e. retail investors. Muthoot Microfin IPO has been subscribed 1.38 times in this category.

Muthoot Microfin IPO Day 1

Muthoot Microfin IPO Review

Muthoot Microfin’s IPO will hit the market today on December 18. The last date of this IPO will be 20th December. Muthoot Microfin Limited is preparing to raise Rs 960 crore through this IPO. Out of this Rs 960 crore, Rs 760 crore will be fresh issue and the remaining Rs 200 crore will be offer for sale, i.e. the promoters of the company are selling their stake. The price band of one share of this IPO has been fixed at Rs 277 to Rs 291. When applying for this IPO, you can buy a minimum of 51 shares in one lot, the total value of which is Rs 14,841.

Muthoot Microfin Limited

Muthoot Microfin Limited is a micro finance company that provides small loans to women. The main focus of this company is to provide loans to rural women. According to Crisil report, Muthoot Microfin is the fourth largest NBFC-MFI (Non-Banking Financial Institution – Microfinance Institution) company in India in terms of gross loans. Muthoot Microfin Limited is the third largest company in South India and the largest company in Kerala in terms of gross loan portfolio and has about 16% market share in Tamil Nadu.

As of March 31, 2023, Muthoot Microfin’s gross loan portfolio stands at Rs 92,082.96 million. The company has 2.77 million active customers. There are 10,227 employees to serve all these customers. Also 1172 branches are spread in 321 districts. Muthoot Microfin Limited operates in 18 states of India.

Muthoot Microfin IPO Date & Price Band Details

Muthoot Microfin Company Financial Highlights (in crores)

Analysts’ recommendations on the IPO

Analysts recommend applying for this IPO with caution due to risks such as fluctuations in interest rates and competition in the microfinance sector. Anand Rathi suggests a long-term “Subscribe” rating given the company’s market leadership and reasonable valuations.

Swastika Investmart advises to look at the risk of this sector and then invest. Canara Bank recommends applying for Securities Listing Gains as the IPO is priced reasonably.

Muthoot Microfin IPO Allotment & Listing Dates

Anchor Investors Allotment:December 17, 2023

IPO Open Date:December 18, 2023

IPO Close Date:December 20, 2023

Basis of Allotment:December 21, 2023

Refunds:December 22, 2023

Credit to Demat Account:December 22, 2023

IPO Listing Date:December 26, 2023

To read many such news related to the world of entertainment, stay connected with us on hourlynews.org!