India's Muthoot Microfin declines in debut trade

Muthoot Microfin

26/12/2023 06:20

** Shares of Muthoot Microfin  MUTO.NS  were 6.8% lower in
trading debut vs IPO price of 291 rupees
    ** MUTO debuts at 275.30 rupees, much lower than the IPO
price; stock fell as much as 265.50 rupees in the session
    ** Co's 9.6 bln rupees ($115.45 mln) IPO had fresh issue of
shares worth 7.6 bln rupees and offer for sale of shares worth 2
bln rupees from existing stakeholders     
    ** IPO oversubscribed 12.30x this week 
    ** Co's net profit for period ended Sept.30 was 2.05 bln
rupees, up from 124.6 mln rupees year ago; interest income
climbs 62.4%
  
($1 = 83.1500 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))