CHENNAI : Muthoot Microfin has raised Rs 284.99 crore from anchor investors ahead of its initial public offering.
It has allotted 97,93,812 equity shares to 26 anchor investors. The investors include WCM International small cap growth fund, ICICI Prudential life Insurance, HDFC life insurance, AMC global fund VCC. Muthoot Finance has picked up 10,30,965 shares, 10.53%.
The IPO will open on Monday (Dec 18) and close on Wednesday. Price band has been fixed at Rs 277-Rs 291 per equity. Bids can be made for a minimum of 51 equity shares. It aims to raise Rs 960 crore from the issue.
“Net proceeds will increase our Tier I capital and the capital adequacy ratio will be utilised for growth in our company’s business and assets, primarily towards onward lending under our company’s lending verticals,” its DRHP states.