Microfinance institution Muthoot Microfin has mobilised nearly Rs 285 crore through its anchor book launched for a day on December 15, a day before the opening of the issue.
More than 20 institutional investors participated in the anchor book of the company, including marquee names like WCM International, JNL Multi-Manager International, North Carolina Supplemental Retirement Plans, Clearwater International Fund, Florida Retirement System, Morgan Stanley, Integrated Core Strategies, Copthall Mauritius Investment and Societe Generale.
Several insurance companies, including ICICI Prudential Life Insurance, HDFC Life Insurance, Bajaj Allianz Life Insurance, Kotak Mahindra Life Insurance, SBI General Insurance, ICICI Lombard General Insurance, Cholamandalam MS General Insurance and Pramerica Life Insurance also invested in the UK-based private equity investor Greater Pacific Capital-backed company via anchor book.
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Muthoot Microfin in its filing to exchanges on Friday said it has finalised allocation of 97,93,812 equity shares to anchor investors at Rs 291 per equity share.
The Rs 960 crore initial public offering by the microfinance company will open for subscription during December 18-20. The price band for the offer has been fixed at Rs 277-291 per share.
The IPO is a mix of a fresh issue of shares worth Rs 760 crore by Muthoot Microfin and an offer for sale (OFS) of Rs 200 crore worth of shares by promoters and investors.
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Promoters Thomas John Muthoot, Thomas Muthoot, Thomas George Muthoot, Preethi John Muthoot, Remmy Thomas and Nina George will be selling shares worth Rs 150 crore, while investor Greater Pacific Capital WIV will sell Rs 50 crore of shares in the OFS.
Greater Pacific Capital WIV holds a 19.06 percent stake in the company, investment management firm Creation Investments India LLC holds 9.01 percent, and a little more than 69 percent stake is held by promoters.
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The company will utilise its net issue proceeds mainly to augment its capital base to meet future capital requirements.
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