Muthoot Microfin Limited | Globe Capital Market LTD.
Muthoot Microfin Limited
Price Band
₹277 to ₹291
IPO Issue Period
Dec 18, 2023 to Dec 20, 2023
Issue Size
₹960.00 Cr
Face value
₹10 per share
Fresh issue
₹760.00 Cr
Offer for sale
₹200.00 Cr
Minimum Shares for Retail
Listing on
Issue Type
Book Building
Registrar to the Issue
Kfin Technologies Limited
Tentative Listing Date
Dec 26, 2023

ICICI Securities Limited
Axis Capital Limited
Jm Financial Limited
SBI Capital Markets Limited

Founded in April 1992, Muthoot Microfin Limited, a subsidiary of Muthoot Pappachan Group, provides micro-loans to female customers with a focus on rural regions in India.

The company provides:

  1. Group loans for livelihood solutions such as income-generating loans, Pragathi loans (bridging loans to existing customers for working capital and income-generating activities) and individual loans
  2. Life betterment solutions including loans for cell phones, solar lights and household appliances
  3. Health and hygiene loans such as loans to improve sanitary facilities
  4. Secured loans in the form of gold loans and our Muthoot Small & Growing Business (“MSGB”) loans.

In 2021, the company launched the “Mahila Mitra” mobile application, which enables digital payment methods such as QR codes, websites, SMS-based links and voice-based payment methods. As of March 31, 2023, 1.18 million customers have downloaded the Mahila Mitra application and 1.70 million customers have made digital transactions.

As of March 31, 2023, the company has 2.77 million active customers, 1,172 branches in 321 districts in 18 states and union territories in India, and employs 10,227 people.

For year/ period ended ( in Cr.)

H1FY23 FY22 FY21
Total Revenue 1,446.34 842.94 696.28
Profit After Tax 163.89 47.40 7.05
EPS 14.19 4.15 0.62
OPM (%)
PATM (%)


  • Market leadership with a pan-India presence;
  • Rural focused operations, with a commitment towards health and social welfare of our customers;
  • Brand recall and synergies with the Muthoot Pappachan Group;
  • Robust risk management framework leading to healthy portfolio quality;
  • Streamlined operating model with effective use of technology;
  • Access to diversified sources of capital and effective cost of funds; and
  • Experienced and Professional Management, with Strong Corporate Governance and support from Promoters and Investors.
  • To undertake our existing business activities, and (ii) to undertake the activities proposed to be funded from the Net Proceeds. Further, the Company expects to receive the benefits of listing the Equity Shares on the Stock Exchanges, including enhancing the brand image among existing and potential customers and creating a public market for the Equity Shares in India.

The company is in micro finance business with a major thrust on rural areas. It has posted steady growth in its performance and has kept NPAs under control. Investors may park funds for the medium to long-term rewards.

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