Zetwerk files updated IPO draft papers to raise Rs 2,600 crore
The Bengaluru-based company had received Sebi approval on July 10 for its IPO, clearing the way for one of the largest listings by a new-age manufacturing company. It had submitted its pre-filed DRHP through Sebi’s confidential filing route in late March.
Muthoot Fincorp Ltd, a key player in the Muthoot Pappachan Group, has initiated the process for an Initial Public Offering (IPO) with the aim of raising Rs 3,000 crore. This move is aimed at bolstering the company's capital resources, according to the Draft Red Herring Prospectus (DRHP) submitted on Wednesday. The funds generated from this issue will primarily be utilized to enhance Muthoot Fincorp's Tier-I capital, ensuring it meets future financial needs, including financing for lending and supporting the growth of its business operations.
Established in 1887, Muthoot Fincorp is a diversified Non-Banking Financial Company (NBFC) with a strong focus on gold loans, which constitute its primary business. The company's offerings extend beyond gold loans to include business loans, property loans, supply chain financing, digital loans, microfinance, and housing loans. Over the past two decades, gold loans have been a cornerstone of Muthoot Fincorp's business model, supported by a vast network of branches and an online platform known as Muthoot FinCorp ONE.
As of March 31, 2026, Muthoot Fincorp reported an Asset Under Management (AUM) of Rs 73,444.72 crore, underpinned by a network of 5,610 branches spread across the country. The company's digital platform has garnered a significant user base, with over 4.26 million registered users. Notably, the AUM under the gold loan segment grew at an impressive compound annual growth rate (CAGR) of 59.04% from March 2024 to March 2026, positioning Muthoot Fincorp as the fastest-growing entity in its sector, as highlighted in Crisil's recent report.
Financially, the company has shown robust growth, with its consolidated profit for the fiscal year 2026 (FY26) reaching Rs 1,847.62 crore, up from Rs 607.90 crore in the previous fiscal year (FY25). Similarly, its consolidated revenue from operations expanded to Rs 11,203.81 crore from Rs 8,497.69 crore in FY25. The book running lead managers for this IPO include Kotak Mahindra Capital Company, Morgan Stanley India Company, JM Financial, and SBI Capital Markets.
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- Zetwerk files updated IPO draft papers to raise Rs 2,600 crore economictimes.indiatimes.com
- Zetwerk files updated IPO papers to raise ₹2,600 crore thehindubusinessline.com
