Muthoot Microfin has filed draft red herring prospectus (DRHP) for an initial public offering (IPO), with Sebi.

The company stated, “Muthoot Microfin Ltd, part of the Muthoot Pappachan Group, filed a Draft Red Herring Prospectus (DRHP) for an initial public offering of equity shares of face value of Rs.10 each for cash at a price per equity share (including a share premium (offer) comprising a fresh issue aggregating up to Rs.500 crore (fresh issue) and an offer for sale of up to 16,310,072 equity shares.”

The company basically provides micro loans to women customers mostly in rural areas and the equity shares are proposed to be listed on BSE and NSE.

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