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Friday, May 6, 2011

Muthoot Finance Limited, which listed on the exchanges today, failed to meet the listing gains expectations of many investors when the IPO opened at Rs.180/- on the BSE at a tiny premium of Rs.5/- per equity share. Although the IPO did hover around Rs.190/- levels for quite sometime, but eventually slid below that to nearly its issue price of Rs.175/- per share

Muthoot Finance Limited is the largest gold financing company in India in terms of loan portfolio, according to IMaCS Industry Report (2010 Update). It provides personal and business 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

Stay tuned to Indian IPO Blog for more on Muthoot Finance Limited IPO!

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