Muthoot Microfin Ltd – a part of the Muthoot Pappachan Group has finally submitted a draft red herring prospectus for an IPO with the market regulator – The Securities and Exchange Board of India (Sebi).

The fresh issue comprises the equity shares worth INR 500 crore & an offer for sale around 16,310,072 shares, a statement by the company. The shares would be listed on BSE & NSE.

The Muthoot Microfin is completely focused on delivering microloans to the women customers mainly in the rural areas.

So, stay updated with the stock to earn some handsome amount in the nearer future.