Muthoot Microfin IPO: Rs 960 cr Issue Opens Dec 18

New Delhi, Dec 12 (PTI) Muthoot Microfin, the microfinance subsidiary of Muthoot Pappachan group, is set to float its Rs 960 crore initial public offering (IPO) on December 18.

The maiden public issue will conclude on December 20 and the one-day bidding for the anchor investors will open on December 15, according to the red herring prospectus (RHP).

The microfinance institution's initial share sale comprises a fresh issue of equity shares worth Rs 760 crore and an offer for sale (OFS) aggregating up to Rs 200 crore.

Those selling shares through the OFS are -- Greater Pacific Capital WIV Ltd and promoters -- Thomas John Muthoot, Thomas Muthoot, Thomas George Muthoot, Preethi John Muthoot, Remmy Thomas and Nina George.

The company plans to use proceeds from the fresh issue for augmenting its capital base, to meet future capital requirements.

Delhi-based Muthoot Microfin is promoted by Muthoot Fincorp, which is the third-largest gold loan player and the flagship firm of Muthoot Pappachan group.

ICICI Securities, Axis Capital, JM Financial and SBI Capital Markets are the book-running lead managers to the issue.