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Muthoot Pappachan Group plans IPO for MFI arm

The company said the IPO will to support expansion of our microfinance business we are preparing ourselves for an IPO

Press Trust of India  |  Mumbai 

Muthoot Group

Kerala-based Muthoot Microfin, a subsidiary of the gold loan player Muthoot Fincorp, is planning an in 2019.

The company said the will to support expansion of our microfinance business we are preparing ourselves for an As of today we are the fourth largest


As part of the IPO, the is also planning to divest some equity to a PE player and plans to raise USD50 million, the company said, adding last December it had raised USD20 million from the Chicago-based PE firm

So far in FY18, the has already raised Rs 1,058 crore of funding, which includes Rs 75 crore of listed NCDs, Rs 398 crore of term loans from banks, and Rs 585 crore of direct assignment of priority sector portfolio with various banks.

First Published: Tue, October 17 2017. 21:36 IST
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