Muthoot Microfin's Rs.960-Cr IPO subscribed 11.5 times

The INR 960-crore IPO of Muthoot Microfin, the microfinance subsidiary of the Muthoot Pappachan Group, was oversubscribed 11.5 times. The qualified institutional buyer (QIB) category was subscribed 17.5 times, the non-institutional investors (NII) part received 13.3 times subscription while the retail investors part witnessed 7.6 times subscription. The IPO with a price band of INR 277 to INR 291 per equity share comprised a fresh issue aggregating to INR 760 crore and an offer-for-sale (OFS) aggregating to INR 200 crore by the selling shareholders. The NBFC-MFI had earlier raised INR 285 crore from anchor investors.