Recently, Muthoot Microfin, a major microfinance company in India, entered the stock market amidst high anticipation. However, instead of a strong beginning, the company faced a setback as its shares experienced a decline. Let’s delve deeper into the story behind Muthoot Microfin’s initial public offering (IPO) and understand what unfolded. Get all the updated details and predictions regarding the Muthoot Microfin microfinance based company and its share prices that will help you to understand the depth of the prediction details.
Muthoot Microfin Share Price
On its last day of trading, Muthoot Microfin began trading at ₹278 and closed at ₹291, oscillating between a high of ₹280.8 and a low of ₹265.3. Presently, the company’s market capitalization stands at 0.0 crore, while specific details regarding the stock’s 52-week high and low were not disclosed. The day’s trading on the Bombay Stock Exchange (BSE) recorded a volume of 371,004 shares.
Muthoot Microfin IPO Listing Price Prediction
Muthoot Microfin successfully raised an impressive Rs. 960 crores through its IPO, garnering a respectable response from investors. The issue was priced in the range of Rs. 277 to Rs. 291 per share, with analysts foreseeing a strong listing for the company. This seems quite disappointing among the customers who step inside Muthoot and people are disappointed on the price list. Prior to the listing, speculations in the grey market were rife, predicting a premium ranging between Rs. 30 to Rs. 35 on the issue price. This translated to investor expectations of the shares being listed at around Rs. 321 to Rs. 326 per share.
Muthoot Microfin Ipo Listing Gain
The much-anticipated IPO debut of Muthoot Microfin faced a setback as the listing fell short of expectations in generating gains. Despite initially raising an impressive Rs. 960 crores through its IPO, the stock opened at Rs. 275, marking a 5% drop from the issue price range of Rs. 277 to Rs. 291 per share.
Muthoot Microfin lists at Rs 275, down over 5%
Contrary to expectations, Muthoot Microfin’s shares commenced trading at Rs. 275, marking a more than 5% decrease from the issue price. This unexpected turn surprised many investors who had anticipated a more robust market debut. Several factors might have contributed to the underwhelming debut. Some attribute it to market volatility, while others cite concerns surrounding the microfinance sector and its reliance on rural borrowers. Regardless of the cause, Muthoot Microfin’s debut fell short of the optimistic expectations.
Despite the lackluster opening, experts suggest it’s premature to dismiss Muthoot Microfin. The company boasts a solid track record and a sizable, dedicated customer base. There’s potential for the stock price to rebound over time, especially if the Indian economy remains robust. While Muthoot Microfin’s IPO didn’t live up to the anticipated strong performance, it’s essential to remain watchful. This microfinance giant possesses substantial strengths and its trajectory in the market will be interesting to observe. Get all IPO related updates from here!