Muthoot Fincorp approves Rs 4,000 crore IPO, announces stock split

Muthoot Fincorp has approved plans for an initial public offering aimed at raising up to Rs 4,000 crore through a fresh issue of equity shares, the company said following a board meeting held on May 17.

The non-bank gold lender’s board also approved a stock split under which each existing share with a face value of Rs 10 will be split into five shares with a face value of Rs 2 each.

The proposed IPO comes after a sharp rise in profitability during FY26. Muthoot Fincorp reported consolidated net profit of Rs 1,848 crore for FY26, compared with Rs 608 crore in the previous financial year.