Muthoot Microfin list at discounted rate on both bourses

Muthoot Microfin, the microfinance subsidiary of Muthoot Pappachan group, got listed at Rs 278 on BSE, as compared to the offer price of Rs 291, leading to a discount of 4.46 per cent.

On NSE, the Muthoot Microfin stock got listed at Rs 275.30, lower by 5.40 per cent.

The microfinance player Muthoot Microfin's IPO had a book-built issue of Rs 960 crore, consisting of a mix of fresh issue of 2.61 crore shares, aggregating upto Rs 760 crores and an offer for sale of 0.69 crore shares aggregating to Rs 200 crores.

The bidding for Muthoot Microfin IPO began from December 18 and ended December 20 this year, while the allotment for the IPO got finalised on December 21.

The price band for the IPO was set between Rs 277- 291 per share, allowing investors to bid for a minimum of 51 shares in a single lot.

The company had reserved 50 per cent of the offer for qualified institutional buyers (QIBs), 35 per cent for retail investors and 15 per cent for non-institutional investors (NIIs).

At close, the IPO was subscribed 11.52 times.

The reserved quota for qualified institutional buyers (QIB) got subscribed 17.47 times, the NII category was subrcibed 13.20 times, and the retail individual investors (RIIs) quota was subscribed 7.61 times.

The book running lead managers of the Muthoot Microfin IPO are ICICI Securities Limited, Axis Capital Limited, Jm Financial Limited and SBI Capital Markets Limited, while Kfin Technologies Limited is the registrar for the issue.

In the quarter ended September, the gold loan firm reported an 14.3 per cent annual jump in net profits to Rs 991 crore, as compared to Rs 867.2 crore in the corresponding quarter last year.