Muthoot Microfin plans to boost as much as ₹1,350 crore via an preliminary share sale and has filed draft papers with markets regulator SEBI.
The Initial Public Offering (IPO) of the corporate that gives micro loans to girls clients will comprise a recent challenge price as much as ₹950 crore and an Offer For Sale (OFS) of equities to the tune of ₹400 crore.
According to the Draft Red Herring Prospectus (DRHP) filed on Friday, the corporate will even take a look at pre-IPO placement to boost ₹190 crore. If that placement is undertaken, the dimensions of the recent challenge will likely be lowered.
The firm plans to make use of proceeds from the recent challenge for augmenting its capital base to fulfill future capital necessities.
Through the OFS route, numerous entities plan to dump ₹400 crore-worth shares. While Greater Pacific Capital WIV Ltd proposes to dump equities price as much as ₹100 crore, Thomas John Muthoot, Thomas Muthoot and Thomas George Muthoot plan to promote shares aggregating as much as ₹70 crore every.
Besides, shares valued as much as ₹30 crore are deliberate to be offloaded, every by Preethi John Muthoot, Remmy Thomas and Nina George, as per the DRHP.
The firm, a part of the Muthoot Pappachan Group, had a gross mortgage portfolio of ₹9,208.29 crore on the finish of March 31.
