Muthoot FinCorp clears IPO to raise up to 4,000 cr
Muthoot FinCorp, known for its gold loans, is set to launch an IPO and will sell at least 10% of its shares to raise up to ₹4,000 crore.
The board has given the green light, but the final go-ahead depends on regulatory approval and market trends.
Shaji Varghese says proceeds fund expansion
CEO Shaji Varghese says the money raised will go straight into growing the business: think expanding beyond gold loans into MSME lending, property loans, and digital services through their Muthoot FinCorp One platform.
Even with global uncertainties, Varghese assures things are steady: "We don't see any de-growth or acceleration in our business. The momentum is business as usual,"
The company is still fully owned by the Muthoot family and sees big opportunities as more of India's gold loan market moves into formal channels.