Muthoot Finance lost 3.38% to Rs 168.85 at 11:42 IST on BSE after the company said it has fixed price band of Rs 155 to Rs 165 per share for institutional placement of up to 2.53 crore equity shares.
The announcement was made after market hours on Tuesday, 22 April 2014.
Meanwhile, the S&P BSE Sensex was up 110.72 points or 0.49% at 22,869.09.
On BSE, so far 42,000 shares were traded in the counter as against average daily volume of 1.52 lakh shares in the past one quarter.
The stock hit a high of Rs 173.95 and a low of Rs 165.05 so far during the day. The stock had hit a record low of Rs 73.60 on 6 August 2013. The stock had hit a 52-week high of Rs 186.25 on 17 April 2014.
The stock had outperformed the market over the past one month till 22 April 2014, surging 10.57% compared with the Sensex's 4.61% rise. The scrip had also outperformed the market in past one quarter, jumping 33.19% as against Sensex's 6.66% rise.
The mid-cap company has equity capital of Rs 371.71 crore. Face value per share is Rs 10.
Muthoot Finance's said that the Securities Issuance Committee of its board of directors on Tuesday, 22 April 2014, accorded its approval for issue of up to 2.53 crore equity shares in the price band of Rs 155 to Rs 165 per share through institutional placement programme (IPP). The IPP opens on 25 April 2014 and closes on the same date, Muthoot Finance said.
Muthoot Finance's net profit fell 28.1% to Rs 194.25 crore on 12% decline in total income to Rs 1200.75 crore in Q3 December 2013 over Q3 December 2012.
Muthoot Finance is the largest gold financing company in India in terms of loan portfolio. The company provides personal loans secured by gold jewellery, or gold loans, primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable time, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements.
Powered by Capital Market - Live News
