Mon. Jul 22nd, 2024

Kolkata: Morgan Stanley Asia (Singapore) Pte, WCM International, JNL Multi Manager International, Clearwater International and SBI General Insurance are among a group of 26 anchor investors which have put in Rs 285 crore collectively in Muthoot Microfin ahead of its Rs 960 crore initial public offer set to hit the market for on Monday.

WCM International emerged as the largest investor in the anchor book with Rs 41.1-crore investment through its small cap growth fund. This was 14.42% of the total allocation to anchor investors, according to a regulatory filing to stock exchanges.

The IPO-bound NBFC-MFI has allocated a total of 98 lakh equity shares to anchor investors at Rs 291 per share.
The company, a part of the Muthoot Pappachan Group and promoted by Muthoot Fincorp, fixed a price band of Rs 277-291 per equity share for the IPO which comprises a fresh issue amounting to Rs 760 crore and an offer-for-sale (OFS) aggregating to Rs 200 crore.

Gold loan company Muthoot Finance was the second largest among anchor investors with Rs 30 crore investment. Muthoot FinCorp and Muthoot Finance are two separate companies without any common promoters.
ICICI Prudential Life Insurance Company, HDFC Life Insurance Company and Bajaj Allianz Life Insurance Company have put in Rs 22 crore each. SBI General invested Rs 10.7 crore.

Morgan Stanley Asia has put in Rs 10 crore while JNL Multi Manager International, and Clearwater International invested Rs 15.2 and Rs 12.3 crore respectively.

Muthoot Microfin, which recorded a 46% year-on-year rise in assets under management to Rs 10900 crore at the end of September, has proposed to utilise the net proceeds from the fresh issue towards augmenting its capital base to meet future capital requirements. The company’s capital adequacy stood at 21.9% at the end of March.
Investors planning to subscribe to the IPO will have to put bids for a minimum 51 equity shares and in multiples of 51 shares thereafter. The issue will close Wednesday.

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