Muthoot FinCorp files for ₹3,000 crore IPO to fund growth, lending
The non-banking financial company plans to use proceeds to strengthen Tier I capital, support lending and expand its digital platform
 "Muthoot FinCorp files for ₹3,000 crore IPO to fund growth, lending")
Indian non-banking financial company Muthoot FinCorp has filed for an initial public offering in Mumbai to raise ₹3,000 crore ($314.59 million), according to a draft prospectus dated Wednesday.
The offering consists entirely of fresh issue of shares, according to the draft filing. The company may undertake a pre-IPO placement of up to 6 billion rupees, which would reduce the size of the fresh issue.
Up to 50 per cent of the net issue will be reserved for qualified institutional buyers, at least 15 per cent for high-net-worth individuals and at least 35 per cent for retail investors.
The company intends to channel the IPO funds toward strengthening its Tier I capital base for future lending needs, while also fueling business growth and digital platform expansion, with a smaller share earmarked for issue-related expenses.
Muthoot FinCorp, the flagship financial services arm of Muthoot Pappachan Group, is primarily engaged in gold loans but also offers loans for business, housing, supply chain financing, loans against property, among others.
India's IPO market has picked up after a slower 2025, drawing a diverse mix of issuers, from auto-parts manufacturer Dhoot Transmission to logistics firm Shiprocket and dairy player Milky Mist, even as investors remain selective on valuations and business fundamentals.
Muthoot FinCorp, which operates more than 3,800 branches across India, reported a more than three-fold jump in net profit and a 31.8 per cent increase in total revenue from operations for the year ended March 31.
Kotak Mahindra Capital, Morgan Stanley India, JM Financial and SBI Capital Markets are book-running lead managers for the IPO.
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