Muthoot Fincorp approved a ₹4,000 crore IPO comprising a fresh issue of equity shares, subject to shareholder and regulatory approvals. The board also approved a stock split of equity shares from ₹10 face value to ₹2 each, fundraising of up to ₹4,000 crore through public NCDs and another ₹4,000 crore through private placement of debt instruments. The company additionally approved the issuance of commercial papers with an overall limit of ₹30,000 crore and a maximum outstanding limit of ₹10,000 crore.
Muthoot Fincorp board approves ₹4,000 crore IPO, share split and fundraising plans
