MUTHOOTFIN

Muthoot FinCorp on May 16 announced that its board has approved a proposal to raise up to ₹4,000 crore through an initial public offering (IPO) of equity shares, subject to shareholder approval and regulatory clearances. The proposed IPO will comprise a fresh issue of equity shares with a face value of ₹10 each and will be launched depending on market conditions and necessary approvals. The board also cleared a stock split proposal under which every fully paid-up equity share with a face value of ₹10 will be subdivided into five equity shares with a face value of ₹2 each, alongside corresponding amendments to the company’s memorandum of association. In addition to the IPO plans, the company approved fundraising initiatives through multiple debt instruments. Muthoot FinCorp plans to raise up to ₹4,000 crore through the public issuance of non-convertible debentures (NCDs) between July 1, 2026, and June 30, 2027. The board also sanctioned raising another ₹4,000 crore through private placement of NCDs, perpetual debt instruments and subordinated debt, subject to shareholder approval. Further, the company approved fundraising through commercial papers with a total issuance limit of ₹30,000 crore and a maximum outstanding limit of ₹10,000 crore at any point in time, while authorising the Stock Allotment Committee to oversee the issuance and allotment process.