Friday, April 15, 2011

Muthoot finance : IPO Details


Muthoot Finance, the largest gold financing company in India in terms of loan portfolio. Kerala-based Muthoot Finance is a non-deposit taking, non-banking finance company. Gold financing company Muthoot Finance will raise over Rs 900 crore through its initial share sale offer, which will begin on April 18. The company has set a price band of Rs 160-175 a share for the IPO of 5.15 crore equity shares.

The Rs 901.25-crore IPO, opening on April 18, would close on April 20 for QIB bidders and on April 21 for retail and non-institutional investors. At the lower end of the price band, the company will raise Rs 824 crore, while on the upper end it will mop up Rs 901.25 crore. 

The issue will constitute 13.85 per cent of the fully-diluted post issue paid-up equity share capital of the company, it said. ICICI Securities, Kotak Mahindra Capital Co are the book running lead managers to the issue, while HDFC Bank is the co-book running lead manager. The IPO proceeds will be utilized to augment the company's capital base for meeting future capital needs, for funding of loans and for general corporate purposes, it added.

We believe that this IPO is worth subscribing to and investors should look to park in money not only for listing gains but also for good returns over the medium term.


MUTHOOT FINANCE LTD
Issue Date: 19th APRIL To 21st APRIL 2010
Price Band Rs. 160/- To Rs.175/- , Bid Lot 40 Shares
Cheques Favouring in Retail & HNI Category :
" ESCROW ACCOUNT - MFL PUBLIC ISSUE - R "
Shares
Rate
Amount
Shares
Rate
Amount
40
175
7000
720
175
126000
80
175
14000
760
175
133000
120
175
21000
800
175
140000
160
175
28000
840
175
147000
200
175
35000
880
175
154000
240
175
42000
920
175
161000
280
175
49000
960
175
168000
320
175
56000
1000
175
175000
360
175
63000
1040
175
182000
400
175
70000
1080
175
189000
440
175
77000
1120
175
196000
480
175
84000
520
175
91000
560
175
98000
600
175
105000
640
175
112000

BRLM: Kotak Mahindra Capital Co Ltd/ ICICI Sec Ltd
COBRLM: HDFC Bank Limited
Syndicate: Kotak Sec Ltd/ HDFC Sec Ltd/ Geojit BNP Paribas Fin Ser Ltd
Issue Period: April 18– April 21, 2011
Issue Period (For QIB): April 18– April 20, 2011
Issue Period (For Retail & HNI): April 18– April 21, 2011
Price Band: Rs.160/- to Rs.175/-
Lot Size: 40 Equity Shares and Multiple of 40 Equity Shares
Registrar: Link Intime India Private Limited
Retail Appl Size: Rs.2,00,000/-
No Discount for Retail Investors
Issue size: 5,15,00,000 Equity Shares of Face Value Rs.10 each.
QIB Book: 2,57,50,000 Equity Shares (50% of Net issue size)
Retail Book: 1,80,25,000 Equity Shares (35% of Net issue size)
HNI Book: 77,25,000 Equity Shares (15% of Net issue size)