Muthoot Microfin IPO subscription status: Issue booked 83% on day 1, retail portion booked 1.38 times; GMP steady
- Muthoot Microfin IPO has opened for subscription on Monday, December 18, and will close on Wednesday, December 20. The Muthoot Microfin IPO price band is set at ₹277 to ₹291 per equity share.
Muthoot Microfin IPO subscription status: The Muthoot Microfin IPO had a slow start on day 1, but it persevered despite not having a full subscription. The Muthoot Microfin IPO subscription status was 83%, at the end of day 1. The retail and non-institutional investors (NIIs) portion of the Muthoot IPO gradually got responses, and the retail and employee portion for fully booked.
Muthoot Microfin IPO has opened for subscription on Monday, December 18, and will close on Wednesday, December 20. Muthoot Microfin IPO price band has been fixed in the range of ₹277 to ₹291 per equity share of the face value of ₹10. Muthoot Microfin Limited raised ₹284.99 crore from anchor investors on Friday, December 15.
Muthoot IPO lot size is 51 equity shares and in multiples of 51 equity shares thereafter. Muthoot Microfin Limited IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. A discount of ₹14 per equity share is being offered to the eligible employees bidding in the employee reservation portion.
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On day 1, Muthoot Microfin IPO's retail investors portion was subscribed 1.38 times, NII portion was subscribed 61%, and QIB portion is yet to be booked. Employee portion has been booked 1.24 times.
Also Read: Muthoot Microfin IPO announces price band at ₹277-291 per share: GMP, issue details, more
Muthoot Microfin IPO subscription status today
Muthoot IPO has received bids for 2,01,43,062 shares against 2,43,87,447 shares on offer, according to data from the BSE.
Muthoot Microfin IPO retail investors' portion received bids for 1,65,46,134 shares against 1,20,03,610 shares on offer for this segment.
Muthoot IPO's non-institutional investors' portion received bids for 31,15,641 shares against 51,44,404 on offer for this segment.
Muthoot Microfin IPO 's QIBs portion received bids for 8,364 shares against 68,59,205 shares on offer for this segment.
Muthoot IPO's employee portion received bids for 4,72,923 shares against 3,80,228 shares on offer for this segment.
Muthoot Microfin IPO details
Muthoot Microfin Limited IPO comprises a fresh issue of shares of up to ₹760 crore and an offer for sale (OFS) of equity shares with face value of ₹10 each by a promoter and others aggregating up to ₹200 crore, as per red herring prospectus (RHP). Muthoot Microfin Limited IPO size is ₹960 crore.
The promoter selling shareholders are Thomas John Muthoot (up to ₹16.36 crore), Thomas Muthoot (up to ₹16.38 crore), Thomas George Muthoot (up to ₹16.36 crore), Preethi John Muthoot (up to ₹33.74 crore), Remmy Thomas (up to ₹33.3 crore), Nina George (up to ₹33.76 crore), and investor selling shareholders is Greater Pacific Capital WIV Ltd (up to ₹50 crore), as per RHP.
The company intends to increase its capital base in order to meet future capital requirements by using the net proceeds from the new issue.
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. The registrar of the issue is Kfin Technologies Limited.
Muthoot IPO dates
Tentatively, Muthoot Microfin IPO basis of allotment of shares will be finalised on Thursday, December 21 and the company will initiate refunds on Friday, December 22, while the shares will be credited to the demat account of allottees on the same day following refund. Muthoot IPO share price is likely to be listed on BSE and NSE on Tuesday, December 26. Given that T+3 listing is mandatory as of December 1, 2023, Muthoot Microfin Limited IPO will list on primary markets this month under this norm.
Muthoot Microfin IPO GMP today
Muthoot Microfin IPO GMP today or grey market premium is +80, similar to previous two trading sessions. This indicates Muthoot Microfin IPO share price were trading at a premium of ₹80 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Muthoot Microfin share price is ₹371 apiece, which is 27.49% higher than the IPO price of ₹291.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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