Muthoot Microfin IPO, the month of December is very important for IPOs. In this, IPOs of many big companies are opening. Muthoot Microfin is also going to launch its IPO on 18th December. Through this, an effort is being made to collect a total of Rs 960 crore. The company has also announced the price band of the shares.

How much was the price band fixed?

Muthoot Microfin has fixed the price band between Rs 277 and Rs 291 per share. Investors can invest money in this IPO between December 18 and December 20. Along with this, the company has fixed the lot size of shares at 51 shares. In such a situation, retail investors can buy at least one and maximum 14 lots i.e. a total of 663 shares at one time. In such a situation, a minimum bid of Rs 14,841 and maximum of Rs 1,92,933 can be placed by retail investors in this IPO. Out of this Rs 960 crore IPO, shares worth 200 crore are offered for sale and fresh shares worth Rs 760 crore are being issued.

How much quota has been fixed for investors?

In Muthoot Microfin IPO, 35 percent of the total issue has been reserved for retail investors. Whereas 15 percent share has been reserved for high net individuals and 50 percent share has been reserved for qualified institutional buyers. The company will allot shares on December 21. Investors who will not get shares in the allotment will get the refund on December 22. Shares will be transferred to the demat account only on December 22.

The listing of shares on BSE and NSE will take place on 26th December. At present the GMP of the company's shares is at Rs 130. In such a situation, if this situation continues till the day of listing, then the shares can be listed at Rs 421 with a profit of 44.67 percent.

Where will the funds be used?

Muthoot Microfin is going to use the funds raised through IPO to meet the capital requirements. The total profit of the company in the financial year 2022-23 was Rs 203 crore.