Muthoot Microfin Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Muthoot Microfin

CMP

232.99

+1.87 (0.81%)

₹291

Offer Price

₹ 960.00 Cr

Issue Size

₹ 14,841

Min Investment

11.52x

Times Subscribed

51

Lot size

Time Line

  • 18
    Dec 2023
    Open
  • 20
    Dec 2023
    Close
  • 21
    Dec 2023
    Finalisation of Basis of Allotment
  • 22
    Dec 2023
    Initiation of Refunds
  • 22
    Dec 2023
    Transfer of Shares to Demat Account
  • 26
    Dec 2023
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Expand its geographical footprint and sourcing platform across India.

  • Continue to Enhance Information Technology with a Focus on Customer Service, Operational Efficiency and Cost Optimization.

  • Leverage its existing branch network to expand its customer base and gross loan portfolio.

  • Diversifying its Sources of Funds.

Products & Services

  • Muthoot Microfin Limited is a microfinance institution providing micro-loans to women customers.

Strengths

  • Market leadership with a pan-India presence.

  • Rural focused operations, with a commitment towards health and social welfare of our 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.

Risks

  • The microfinance industry in India faces certain risks due to the category of customers that it services, which are not generally associated with other forms of lending. As a result, the company may experience increased levels of non-performing assets and related provisions and write-offs that may adversely affect its business, financial condition and results of operations.

  • The company`s business is vulnerable to interest rate risk, and volatility in interest rates could have an adverse effect on its net interest income and net interest margin, thereby affecting the company results of operations.

  • An increase in the level of its non-performing assets or provisions may adversely affect the company financial condition and results of operations.

  • As a non-banking financial company - microfinance institution, the company is subject to periodic inspections by the Reserve Bank of India. Non-compliance with observations made by the Reserve Bank of India during these inspections could expose it to penalties and restrictions.

  • The company is subject to certain conditions under its financing arrangements, which could restrict the company ability to conduct its business and operations in the manner the company desire.

Company Promoters

Promoters Holding

Issue For IPO
13.61%
Pre Holding

69.08%

Post Holding

55.47%

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 832.83 (21.70%) 1,429.10 (71.60%) 10.08 (-)
Gross Profit 832.83 (21.70%) 1,429.10 (71.60%) 10.08 (-)
Net Income 832.83 (21.70%) 1,429.10 (71.60%) 10.08 (-)
Assets 832.83 (21.70%) 1,429.10 (71.60%) 10.08 (-)
Liabilities 832.83 (21.70%) 1,429.10 (71.60%) 10.08 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Muthoot Microfin Ltd 1,429.10 163.89 8,248.97 6,623.12 10.08 0.00 137.15 3.75 0.80
Equitas Small Finance Bank Ltd 4,161.88 573.59 34,958.13 34,958.13 11.12 4.71 46.44 1.64 0.00
Ujjivan Small Finance Bank Ltd 4,164.99 1,099.92 33,316.88 33,316.88 27.43 5.82 20.51 3.30 0.00
CreditAccess Grameen Ltd 3,545.12 826.06 21,858.10 21,858.10 16.17 51.82 321.37 3.77 3.19
Spandana Sphoorty Financial Ltd 1,400.75 12.32 9,382.60 9,382.60 0.39 1.74 436.62 0.13 1.96
Bandhan Bank Ltd 15,904.70 2,194.64 155,769.97 155,769.97 11.20 13.62 121.58 1.40 0.00
Suryoday Small Finance Bank Ltd 1,183.68 77.69 9,861.22 9,861.22 4.90 7.32 149.28 0.78 0.00
Fusion Micro Finance Ltd 1,741.92 387.14 9,363.54 9,363.54 16.67 43.29 231.39 4.13 2.92

Book Running Managers

  • Axis Capital Ltd
  • JM Financial Ltd
  • SBI Capital Markets Ltd
  • ICICI Securities Ltd

Registrar & Transfer Agent

KFin Techologies Ltd

Karvy Selenium Tow-B,
31&32 Financial Dist,
Nanakramguda - Hyderabad-500032
Phone : 91-40-67162222 Fax: 91-40-23001153/23420814

Company Contact Information

13th Floor Parinee Crescenzo,
Bandra Kurla Cmpx Bandra East,
Mumbai - 400051
Phone : +91 48 4427 7500 Email : info@muthootmicrofin.com www.muthootmicrofin.com

Offer Related Information

Initial public offer of 33,007,054* equity shares of face value of Rs. 10 each ("Equity Shares") of Muthoot Microfin Limited ("Company") for cash at a price of Rs. 291^ per equity share (including a share premium of Rs. 281 per equity share) ("Offer Price") aggregating to Rs. 960.00 crores* comprising a fresh issue of 26,134,205* equity shares of face value of Rs. 10 each aggregating to Rs. 760.00 crores* by the company ("Fresh Issue") and an offer for sale of 6,872,849* equity shares of face... More

News

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