The Muthoot Microfin IPO has witnessed robust demand from investors, reaching full subscription within minutes on day 2 of its opening. The IPO, which opened on December 18 and is set to close on December 20, had a slow start on day 1 but managed to gain momentum despite not achieving full subscription.
As of the latest update, the Muthoot Microfin IPO has received bids for 2,85,57,807 shares against the total offer of 2,43,87,447 shares. The retail investors’ portion has been subscribed 1.98 times, the non-institutional investors’ (NII) portion is at 81%, and the qualified institutional buyers (QIB) portion is yet to be fully booked. The employee portion has been oversubscribed 1.76 times.
The Muthoot IPO’s price band is set between ₹277 to ₹291 per equity share with a lot size of 51 shares and multiples thereof. The IPO comprises a fresh issue of shares amounting to ₹760 crore and an offer for sale (OFS) of equity shares with a face value of ₹10 each, aggregating up to ₹200 crore.
The promoter selling shareholders include individuals such as Thomas John Muthoot, Thomas Muthoot, Thomas George Muthoot, Preethi John Muthoot, Remmy Thomas, Nina George, and investor selling shareholder Greater Pacific Capital WIV Ltd.
The book running lead managers for 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 of the issue.
The basis of allotment of shares is expected to be finalized on December 21, with refunds initiated on December 22. The shares are anticipated to be credited to the demat accounts of allottees on the same day, and the IPO is likely to be listed on BSE and NSE on December 26.
In the grey market, the Muthoot Microfin IPO’s grey market premium (GMP) is reported at +55, suggesting that shares are trading at a premium of ₹55. This indicates investors’ willingness to pay more than the issue price. With the current GMP, the estimated listing price of Muthoot Microfin shares is projected to be ₹346 apiece, representing an 18.9% premium over the IPO price of ₹291. The GMP is a key indicator of market sentiment and investor confidence in the upcoming listing of the company’s shares.
