MUMBAI: Muthoot Fincorp has approved plans to raise up to Rs 4,000 crore through an initial public offering of equity shares and a share split, as part of a broader capital-raising programme cleared by its board on May 16, even as the company reported growth in its latest financial results.In an exchange filing, the company said the proposed IPO will comprise a fresh issue of equity shares of face value Rs 10 each aggregating up to Rs 4,000 crore, subject to shareholder approval, market conditions and regulatory clearances. The company is the smaller of the two Kerala-based finance firms bearing similar names, the other being Muthoot Finance which is already listed. The board approved a sub-division of each equity share of face value Rs 10 into five equity shares of face value Rs 2 each, fully paid-up, along with a corresponding alteration to the memorandum of association, ahead of the proposed listing.The fundraising plan comes amid growth in gold loans in India. For FY26, the company reported consolidated assets under management of Rs 73,448.8 crore, profit after tax of Rs 1,847.6 crore, and revenue of Rs 11,227.8 crore. On a standalone basis, AUM stood at Rs 56,185.1 crore.
