Muthoot Fincorp files Rs 3,000 crore IPO

Muthoot Pappachan Group, a subsidiary of the Muthoot Pappachan Group, filed a Draft Red Herring Prospectus (DRHP) with the India — Securities and Exchange Board of India (SEBI) on August 13, 2026, to raise Rs 3,000 crore through an initial public offering (IPO). The IPO consists entirely of a fresh issue of equity shares, with proceeds intended to augment the company's Tier-I capital base to support future lending and business expansion. As of March 31, 2026, Muthoot Pappachan Group had assets under management (AUM) of Rs 73,444.72 crore, a network of 5,610 branches across India, and 4.26 million digital platform users. The company's gold loan AUM grew at a CAGR of 59.04% between March 2024 and March 2026, making it the fastest-growing among peers, according to a S&P Global — CRISIL Ratings report. In FY26, consolidated profit rose to Rs 1,847.62 crore from Rs 607.90 crore in FY25, while revenue increased to Rs 11,203.81 crore from Rs 8,497.69 crore. The book running lead managers are Kotak Mahindra Bank — Kotak Mahindra Capital Company, Morgan Stanley India, JM Financial, and State Bank of India — State Bank of India. The equity shares are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange of India.