New Delhi, May 20 -- Muthoot FinCorp Ltd, one of India's largest gold loan non-banking finance companies (NBFCs), is seeking to raise up to Rs.4,000 crore through an initial public offering, even as it attempts to convince investors that it is more than just the business it has spent decades building.

Muthoot wants to be read as a diversified, technology-enabled financial services company that can grow through its branch network, app, and a wider product set.

That is the tension at the heart of the company's initial public offering (IPO) pitch. In an interview with Mint, chief executive Shaji Varghese said the company is moving "from a single-product company to a company of a social segment with multiple products".

The NBFC, with 3,800...