The report stated that the company has raised about Rs1.3 bn from 11 cornerstone investors.
Muthoot Finance Ltd. initial public offer (IPO) has been subscribed more than 24 times. The total bids received stood at more than 1 trillion shares as against 43,775,000 shares on offer.
The company had fixed the price band at Rs. 160 to Rs. 175 a share.
The IPO opened on April 18 and closed on April 21. The QIB portion closed on Wednesday and was subscribed 25 times.
Muthoot Finance, India's largest gold financing company in terms of loan portfolio, finalized the allocation of 77.25 lakh shares at a price of Rs. 170 per share to a clutch of anchor investors for Rs. 1.31bn.
The anchor investors include Citigroup, Abu Dhabi Investment Authority, Goldman Sachs, Baring India Private Equity, Credit Suisse, Birla Sun Life Trustee Co. and RBS.
Muthoot Finance provides personal and business loans secured by gold jewellery, or Gold Loans, primarily to individuals. The company intends to utilize proceeds of the IPO to augment its capital base to meet its future capital requirements.
Post issue, Muthoot Finance promoters holding will fall to 80.12% from 93%. Currently, the balance 7% is owned by Matrix Partners, Barings Private Equity India, Kotak Private Equity and the Welcome Trust.
The company had fixed the price band at Rs. 160 to Rs. 175 a share.
The IPO opened on April 18 and closed on April 21. The QIB portion closed on Wednesday and was subscribed 25 times.
Muthoot Finance, India's largest gold financing company in terms of loan portfolio, finalized the allocation of 77.25 lakh shares at a price of Rs. 170 per share to a clutch of anchor investors for Rs. 1.31bn.
The anchor investors include Citigroup, Abu Dhabi Investment Authority, Goldman Sachs, Baring India Private Equity, Credit Suisse, Birla Sun Life Trustee Co. and RBS.
Muthoot Finance provides personal and business loans secured by gold jewellery, or Gold Loans, primarily to individuals. The company intends to utilize proceeds of the IPO to augment its capital base to meet its future capital requirements.
Post issue, Muthoot Finance promoters holding will fall to 80.12% from 93%. Currently, the balance 7% is owned by Matrix Partners, Barings Private Equity India, Kotak Private Equity and the Welcome Trust.
Also read more:
Innoventive Industries IPO opens on April 26
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R. Saxena
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Mail Id: simmi9sep@gmail.com
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