Muthoot Finance to raise Rs 1,400 crore through IPO
Gold financing company Muthoot Finance will raise up to Rs 1,400 crore through an initial share sale offer, which is expected to begin in the last week of this month.
March 10, 2011 / 16:02 IST
Gold financing company Muthoot Finance will raise up to Rs 1,400 crore through an initial share sale offer, which is expected to begin in the last week of this month.
Capital market regulator Sebi had in December approved the initial public offering (IPO) of Muthoot Finance. As per the draft prospectus filed with Sebi, the company will issue 5.15 crore shares through the IPO, which will see it divest a 13.85% stake.
Investment banking sources said the company will come out with the share sale offer in the last week of March and aims to raise somewhere between Rs 1,200-1,400 crore.
Rating agency Crisil had assigned a grade of "four on five" to the proposed IPO, indicating above average fundamentals.
Kerala-based Muthoot Finance is a non-deposit taking, non-banking finance company (NBFC). Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
