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Muthoot Finance Ltd IPO
Incorporated in 1997, Muthoot Finance Ltd is the Kerala - based largest gold financing company in India in terms of loan portfolio. Muthoot Finance provides personal and business loans secured by gold jewellery, or Gold Loans. They have 1605 branches across 20 states and two union territories in India. Muthoot Finance provides personal and business loans secured by gold jewellery, or Gold Loans, primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable time, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements. The company intends to utilize proceeds of the IPO to augment its capital base to meet its future capital requirements to provide for funding of loans to its customers and general corporate purposes.
Mirroring a strong investor appetite, the initial public offer (IPO) of country's largest gold financing company Muthoot Finance got over subscribed 11.02 times on the third day of issue
Muthoot Finance Ltd IPO Grading
CRISIL has assigned an IPO Grade 4 to Muthoot Finance Ltd IPO. This means as per CRISIL, company has 'Above Average Fundamentals'. CRISIL assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.
Company Promoters:
1. M.G. George Muthoot;
2. George Thomas Muthoot;
3. George Jacob Muthoot; and
4. George Alexander Muthoot
Issue Details
Issue Open: Apr 18, 2011 - Apr 21, 2011
Issue Type: 100% Book Built Issue IPO
Issue Size: 51,500,000 Equity Shares of Rs. 10
Issue Size: Rs. 824.00 - 901.25 Crore
Face Value: Rs. 10 Per Equity Share
Issue Price: Rs. 160 - Rs. 175 Per Equity Share
Market Lot: 40 Shares
Minimum Order Quantity: 40 Shares
Listing At: BSE, NSE
IPO Subscription Detail / IPO Oversubscription Details / IPO Bidding Status:
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Number of Times Issue is Subscribed (BSE + NSE) |
| |
Date & Time |
QIB |
Non Institutional Investors (NIIs) |
Retail Individual Investors (RIIs) |
Total |
| |
Shares Offered / Reserved |
18,025,000 |
7,725,000 |
18,025,000 |
43,775,000 |
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Day 1 - Apr 18, 2011 |
0.2600 |
0.0200 |
0.1200 |
0.1600 |
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Day 2 - Apr 19, 2011 |
0.3100 |
0.2100 |
0.4600 |
0.3500 |
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Day 3 - Apr 20, 2011 |
25.0100 |
0.9800 |
1.3400 |
11.0200 |
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Day 4 - Apr 21, 2011 |
25.0100 |
60.9400 |
8.5000 |
24.5500 |
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