Muthoot Microfin Ltd IPO

Muthoot Microfin Limited was incorporated as `Panchratna Stock and Investment Consultancy Services Private Limited' on April 6, 1992 at Mumbai, Maharashtra, India as a private limited company under the Companies Act, 1956. Thereafter, the Company was converted into a public limited company pursuant to a special resolution passed by its Shareholders on April 30, 1994 and consequently, the name of the Company was changed to `Panchratna Stock and Investment Consultancy Services Limited'. A fresh certificate of change of name, consequent upon conversion to a public limited company was issued by the Registrar of Companies, Maharashtra at Mumbai (RoC) on June 9, 1994. Thereafter, the name of the Company was changed to `Panchratna Securities Limited', in order to align with the object clause and activity being carried on by the Company, pursuant to a resolution passed by the Shareholders on June 11, 1994. A fresh certificate of incorporation, consequent to the change of name was granted to the Company by the RoC on June 22, 1994. The Reserve Bank of India (RBI) granted a certificate of registration dated March 18, 1998 bearing no. 13.00365 to the Company, under its erstwhile name `Panchratna Securities Limited' for registration as an NBFC under Section 45-IA of the Reserve Bank of India Act, 1934. Subsequently, the name of the Company was changed to `Muthoot Microfin Limited', in order to reflect the group's identity of the shareholders i.e., the Muthoot Pappachan Group and the operations of the Company, pursuant to a resolution passed by the Shareholders on October 29, 2012. A fresh certificate of incorporation, consequent to the change of name was granted to the Company by the RoC on November 6, 2012. Pursuant to a change in the objects clause of the Company, which was approved by way of special resolution dated January 21, 2013, the Company was granted a certificate of registration of the special resolution confirming alteration of object clause dated February 12, 2013. Subsequently, the RBI granted a revised certificate of registration dated March 18, 1998, reflecting the change of the Company's name to Muthoot Microfin Limited, with effect from March 25, 2015. The RBI has granted NBFC-Microfinance Institution (NBFC-MFI) status to the Company with effect from March 25, 2015, pursuant to an endorsement on its certificate of registration dated March 18, 1998.

The microfinance industry's gross loan portfolio increased at a compounded annual growth rate of 21% since the financial year 2018 to reach approximately Rs. 3.3 trillion in the third quarter of the financial year 2023. The growth rate for non-banking financial companies - microfinance institutions, is the fastest as compared to other player groups. Going forward, the microfinance industry will continue to see strong growth due to the Government's continued focus on strengthening the rural financial ecosystem, robust credit demand, and higher-ticket loans disbursed by microfinance lenders

Muthoot Microfin Limited is a microfinance institution providing micro-loans to women customers (primarily for income generation purposes) with a focus on rural regions of India. Its loan products comprise, among others, (i) group loans for livelihood solutions such as income generating loans, Pragathi loans (which are interim loans made to existing customers for working capital and income generating activities) and individual loans; (ii) life betterment solutions including mobile phones loans; (iii) health and hygiene loans such as sanitation improvement loans; and (iv) secured loans in the form of gold loans and our Muthoot Small & Growing Business loans