Muthoot Microfin IPO raises ₹285 crore from anchor investors
Muthoot Microfin IPO: The initial public offering of Muthoot Microfin Limited has raised ₹284.99 crore from abchor investors. The microfinance company raised this money by allotting 97,93,812 equity shares at the upper price band of ₹291 per equity share to 26 anchor investors.
Key anchor investors include, Morgan Stanley Asia (Singapore) Pte. , WCM International, JNL Multi Manager International, Clearwater International, ICICI Prudential Life Insurance, HDFC Life Insurance, Bajaj Allianz Life Insurance, Muthoot Finance Limited, SBI General Insurance, Kotak Mahindra Life Insurance , ICICI Lombard General Insurance and Reliance General Insurance.
Sharing details of the anchor investment, Muthoor Microfin said in exchange filing, “The IPO Committee of the company in their meeting held on December 15, 2023, in consultation with ICICI Securities Ltd, Axis Capital Limited, JM Financial Limited and SBI Capital Market Limited (‘Book Running Lead Manager”), have finalized allocation of 97,93,812 Equity Shares, to Anchor Investors at Anchor Investor Alocation price of ₹291 /- per equity share (including share premium of ₹281 /- per Equity share.”
As per the Securities and Exchange Board of India or SEBI (Issue of Capital and Disclosure Requirement) regulation, 2018, as amended, ion case of offer price discovered through book building process is higher than the Anchor Investor allocation price, Anchor Investors will be required to pay the difference by the Anchor Investors pay-in Date, as specified in the revised CAN.
The public issue will open for subscription on 18th December 2023 i.e. on Monday next week. It will remain open fir bidding till 20th December 2023. This means, Muthoot Microfin IPO date of subscription has been fixed from Monday to Wednesday next week. The company has fixed Muthoot Microfin IPO price band at ₹2277 to ₹291 per equity share and it aims to raise ₹960 crore from its public issue.
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Published: 16 Dec 2023, 02:27 PM IST
