Muthoot Fincorp Limited files DRHP with SEBI for its IPO

Muthoot Fincorp Limited (MFL), part of the Muthoot Pappachan Group, a diversified NBFC anchored by their gold loan business has filed its DRHP with SEBI for an IPO.

The IPO comprises of a fresh issue of ₹3,000 crore.

The proceeds from the fresh issue are to be utilised towards augmenting the Company’s Tier I capital base to meet its future capital requirements, including onward lending, arising out of the growth and expansion of its business, including its digital platform and diversified lending portfolio.

Muthoot Fincorp Limited is a diversified NBFC anchored by its gold loan business, which serves as its flagship, profitable foundation. Its diversified, customer centric product offering is designed to support customers’ evolving needs across their lifecycle and includes gold loans, business loans, loans against property, supply chain financing, digital loans, microfinance, housing loans and a range of non-fund-based, distribution service offerings across insurance, payments, savings and other financial services.

Muthoot Fincorp Limited is part of the Muthoot Pappachan Group, and its operations have evolved over a period of 86 years since it co-founded a gold loan business in 1939 as part of the heritage trading business, which has roots dating back to 1887, according to the CRISIL Report. Over the decades, the Muthoot Pappachan Group has built a trusted and diversified franchise across financial services.

Muthoot Fincorp Limited has the fastest-growing gold loan AUM in India among peers, according to the CRISIL Report, with gold loan AUM growing at a CAGR of 59.04% between March 31, 2024 and March 31, 2026. Muthoot Fincorp Limited has been engaged in the gold loans business for over two decades, underpinned by a trusted brand, customer recall and repeat engagement, an extensive, well-distributed physical branch network and Muthoot FinCorp ONE, its digital platform.

Building on the core gold loan franchise, Muthoot Fincorp Limited has progressively diversified into a broader, multi-business-unit financial services franchise spanning gold loans and its Business and Personal Finance Division, supported by Muthoot FinCorp ONE, its digital platform. Its Business and Personal Finance Division offerings span across retail and MSME lending, including loans against property, business loans, supply chain finance, housing loans and digital loans. Muthoot Fincorp Limited also offers a range of non-fund-based, distribution service offerings across insurance, payments, savings and other financial services.

Muthoot FinCorp ONE has been built as a proprietary digital capability that enables customers to digitally experience the entire loan journey for its products, certain Muthoot Pappachan Group products and third-party lending offerings. Its business units operate with dedicated business leaders, underwriting and collections, while leveraging a proprietary technology platform that ensures a seamless, singular journey for the end customer.

As of March 31, 2026, Muthoot Fincorp Limited had an AUM of ₹734,447.19 million, a pan-India branch footprint of 5,610 branches and a growing digital user base of 4.26 million customers. Over the last three Financial Years, it had served over 8.22 million unique customers, as of March 31, 2026. As of March 31, 2026, it had over 2.85 million active unique customers with loan accounts, including 1.73 million new customers with loan accounts acquired during Financial Year 2026.

The company delivered a consistent and strong financial performance across economic cycles while scaling with discipline. In FY26, the consolidated revenue from operations increasing to ₹11,203.81 crore from ₹8,497.69 crore in FY25. Consolidated profit for the year increased to ₹1,847.62 crore in FY26 from ₹607.90 crore in FY25, reflecting a significant improvement in profitability.

Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, JM Financial Limited, and SBI Capital Markets Limited are the Book Running Lead Managers.