Muthoot Microfin IPO to open for bidding today: Should you subscribe to the issue?
The Rs 960 crore initial public offering (IPO) of Muthoot Microfin is set to kick off on Monday, December 18, which comprises of a fresh share sale of Rs 760 crore.
- Dec 18, 2023,
- Updated Dec 18, 2023 7:50 AM IST
The initial public offering (IPO) of Muthoot Microfin will open for public bidding on Monday, December 18. The shadow-lender is offering its shares in the range of Rs 277-291 apiece, with a lot size of Rs 51 equity shares. The bidding process will conclude on Wednesday, December 20. The gross loan portfolio of the microfinance industry has experienced a CAGR of 21 per cent from FY18, reaching around Rs 3.3 lakh crore in the third quarter of the financial year 2023. As of September 30, 2023, the income generating loans constituted Rs 10,211.87 crore, accounting for 94 per cent of the total gross loan portfolio, said Ventura Securities. "As the company expands its geographic reach and scales up operations, there is a strategic focus on enhancing and investing in technology. The objective is to bolster growth, enhance service quality, and achieve superior turnaround times in operations," it added.
(Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)
Also read: ZEE shares in focus as firm seeks extension of timeline to complete Sony merger
Also read: Stock recommendations by market analyst for December 18, 2023: SBI, IDFC and Graphite India
The initial public offering (IPO) of Muthoot Microfin will open for public bidding on Monday, December 18. The shadow-lender is offering its shares in the range of Rs 277-291 apiece, with a lot size of Rs 51 equity shares. The bidding process will conclude on Wednesday, December 20. The gross loan portfolio of the microfinance industry has experienced a CAGR of 21 per cent from FY18, reaching around Rs 3.3 lakh crore in the third quarter of the financial year 2023. As of September 30, 2023, the income generating loans constituted Rs 10,211.87 crore, accounting for 94 per cent of the total gross loan portfolio, said Ventura Securities. "As the company expands its geographic reach and scales up operations, there is a strategic focus on enhancing and investing in technology. The objective is to bolster growth, enhance service quality, and achieve superior turnaround times in operations," it added.
(Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)
Also read: ZEE shares in focus as firm seeks extension of timeline to complete Sony merger
Also read: Stock recommendations by market analyst for December 18, 2023: SBI, IDFC and Graphite India