Upcoming IPO, Aug. 13 -- Muthoot Fincorp Ltd, a part of the Muthoot Pappachan Group, has submitted draft documents to market regulator Sebi to raise Rs.3,000 crore through an Initial Public Offering (IPO), with the proceeds aimed at strengthening its capital base.

According to the Draft Red Herring Prospectus (DRHP) filed on Wednesday, the proposed IPO will comprise entirely of a fresh issue of equity shares.

The funds raised through the issue will be utilised to enhance the company's Tier-I capital base and meet future capital needs. This will include supporting onward lending and financing the company's business growth and expansion.

Kotak Mahindra Capital Company, Morgan Stanley India Company, JM Financial and SBI Capital Markets ha...