MUTHOOTFIN

Muthoot Fincorp has approved plans to launch an initial public offering (IPO) to raise up to Rs 4,000 crore through a fresh issue of equity shares, the company announced after its board meeting on May 17. The board also cleared a stock split, under which every existing equity share with a face value of Rs 10 will be divided into five shares with a face value of Rs 2 each. The proposed IPO follows a strong surge in earnings in FY26. The non-banking gold lender reported a consolidated net profit of Rs 1,848 crore for the financial year, sharply higher than Rs 608 crore recorded in FY25. Muthoot Fincorp is one of India’s leading gold-focused non-banking financial companies (NBFCs), providing gold loans along with a range of retail financial services.