Muthoot Microfin IPO listing date tomorrow. GMP, experts see decent debut of shares

“Trading Members of the Exchange are hereby informed that effective from Tuesday, December 26, 2023, the equity shares of Muthoot Microfin Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities,” says BSE notice.

Meanwhile, Muthoot Microfin IPO has gained strength in grey market ahead of listing date. As per the stock market observers, Muthoot Microfin share price is available at a premium of ₹34 in grey market today.

According to stock market experts, Muthoot Microfin IPO received decent response from investors and it has remained steady in grey market after closure of its subscription. They said that Muthoot Microfin IPO listing price may take place at a premium of ₹30 to ₹35, which means the financial stock may list in ₹321 to ₹326 per share. They said that one can expect around 10 per cent listing gain from the Muthoot Microfin IPO listing.

Speaking on expected Muthoot Microfin IPO listing price, Arun Kejriwal, Founder at Kejriwal Research and Investment Services said, “The public issue received decent response from investors but outlook of the company doesn’t sound strong as the entire sector is expected to face challenge on the liquidity front from big sized lenders. But, due to overcrowded primary market, I am expecting that Muthoot Microfin share price may list at a premium of ₹30 to ₹35. This means Muthoot Microfin share price may list on Indian bourses in the range of ₹321 to ₹326 apiece levels.”

Expecting positive debut of Muthoot Microfin shares, Prathamesh Masdekar, Research Analyst at StoxBox said, “With the streak of IPOs coming into the markets in the past few weeks and having a robust opening on its listing day, we believe that Muthoot Microfin Ltd. too will follow the herd. The microfinance lender received a decent subscription of about 12x and we expect the IPO to list at a premium of around 10% to the issue price of ₹291 per share.”

Prathamesh Masdekar said that the lender has a well-diversified funding profile that underpins its liquidity management system, credit rating, and brand equity. While the lender’s operations have historically been concentrated in South India, they have in recent years expanded into North, East, and West India.

As mentioned above, Muthoot Microfin IPO grey market premium (GMP) today is ₹34, which means grey market is expecting that Muthoot Microfin IPO listing price would be ₹325 per share.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.

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Published: 25 Dec 2023, 08:28 PM IST