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Belstar Microfinance's IPO may be postponed by three to four quarters due to ongoing stress in the microfinance sector, according to Muthoot Finance MD George Alexander Muthoot. Despite receiving SEBI approval for a fresh issue of Rs 1,000 crore and an offer for sale of Rs 300 crore, the company has reported a decline in net profit and flat growth in recent quarters. Muthoot anticipates that the sector will improve, allowing for a potential IPO in the future.
Muthoot Finance shares surged nearly 8% following a strong quarterly profit and a milestone of over Rs 1 lakh crore in assets under management (AUM), driven by a significant demand for gold loans amid tighter RBI regulations on unsecured lending. The company's gold loan AUM reached a record Rs 86,164 crore, with most loans repaid within six months. Analysts from Bernstein and Morgan Stanley have expressed positive outlooks on the stock, citing improved market conditions despite some sectoral concerns.
George Alexander Muthoot
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Belstar Microfinance IPO delayed by a year amid sector stress
12:55 22.11.2024
Muthoot Finance shares surge as gold loan demand drives record AUM growth
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08:46 18.11.2024
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