Muthoot Fincorp files DRHP with SEBI for ₹3,000 crore IPO
Muthoot Fincorp Limited (MFL), part of the Muthoot Pappachan Group and a diversified non-banking financial company (NBFC) anchored by its gold loan business, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO).
The IPO will comprise a fresh issue of ₹3,000 crore. The company said the proceeds will be used to augment its Tier I capital base to meet future capital requirements, including onward lending, driven by the growth and expansion of its business, digital platform and diversified lending portfolio.
Muthoot Fincorp operates across gold loans, business loans, loans against property, supply chain financing, digital loans, microfinance and housing loans. It also offers non-fund-based distribution services spanning insurance, payments, savings and other financial services.
According to the CRISIL Report, Muthoot Fincorp has the fastest-growing gold loan assets under management (AUM) among peers in India, with gold loan AUM growing at a CAGR of 59.04% between March 31, 2024 and March 31, 2026.
The company has been engaged in the gold loan business for over two decades and has expanded its presence through its physical branch network and digital platform, Muthoot FinCorp ONE.
As of March 31, 2026, Muthoot Fincorp had an AUM of ₹73,444.72 crore, with a pan-India network of 5,610 branches and 4.26 million digital users. During the last three financial years, the company served more than 8.22 million unique customers.
The company had over 2.85 million active unique customers with loan accounts as of March 31, 2026, including 1.73 million new customers acquired during FY26.
Muthoot Fincorp also reported a sharp improvement in its financial performance. Consolidated revenue from operations rose to ₹11,203.81 crore in FY26 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, compared with ₹607.90 crore in FY25.
Muthoot Fincorp is part of the Muthoot Pappachan Group, whose financial services operations have evolved over 86 years since the group co-founded a gold loan business in 1939. The group’s heritage trading business dates back to 1887, according to the CRISIL Report.
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 to the issue.
