Muthoot sets IPO price band at Rs 160-175

Muthoot Finance has set a price band of Rs 160-175 per share for its initial public offering IPO to raise up to Rs 9.01 billion,according to an advertisement in the Fianncial Express newspaper on Wednesday.

The IPO,which opens on April 18 and closes on April 21,comprises of 51.5 million equity shares.

ICICI Securities and Kotak Mahindra Capital Co are the book running lead managers to the issue while HDFC Bank is the co-manager.