Muthoot Microfin IPO allotment: Follow these steps to check status

Kochi-based Muthoot Microfin's initial public offering (IPO) garnered decent attention from investors during the 3-day bidding process from December 18 to December 20.

The micro-loans provider, a subsidiary of the Muthoot Pappachan Group, is anticipated to be listed on the stock exchanges on December 26. The IPO, subscribed 12.30 times, witnessed strong participation from both qualified institutional buyers and non-institutional investors.

The basis of allotment for the Muthoot Microfin IPO is likely to be finalised today (December 21, 2023) and investors keen to check their application status can follow these steps when the share allotment is finalised:

Check allotment status via BSE:

Visit the BSE issue application page here.

On the website, click on 'Equity' and then select ‘Muthoot Microfin’ from the dropdown menu.

Enter your application number and PAN.

Click on 'Search'.

Via Kfin Tech:

To check the Muthoot Microfin IPO allotment status, visit the registrar’s website here.

Click on ‘Company Selection’ and then select ‘Muthoot Microfin’.

Enter your PAN, application number, DP / Client ID or Account number / IFSC.

Click on ‘Search’.

Latest Grey Market Premium (GMP)

The current grey market premium (GMP) for Muthoot Microfin stands at Rs 20 per share, a notable decrease from Rs 55 on December 18, the opening day of the subscription. At the present GMP, the shares are expected to list at Rs 311, reflecting a marginal 6.87 per cent premium over its IPO price of Rs 291. It is essential to note that GMP may not always accurately predict the listing price.

Key IPO Details

Muthoot Microfin IPO is a book-built issue of Rs 960 crore. The IPO comprises a fresh issue of 2.61 crore shares aggregating to Rs 760 crore and an offer for sale of 0.69 crore shares aggregating to Rs 200 crore.

Bidding took place from December 18 to December 20, 2023, with allotment expected to be finalised on Thursday, December 21, 2023. The tentative listing date for Muthoot Microfin IPO is set as Tuesday, December 26, 2023.

The IPO price band is between Rs 277 to Rs 291 per share, with a minimum lot size for an application set at 51 shares and retail investors require a minimum investment of Rs 14,841.

The book running lead managers for the IPO are ICICI Securities Limited, Axis Capital Limited, JM Financial Limited, and SBI Capital Markets Limited, with Kfin Technologies Limited serving as the registrar for the issue.