New Delhi: Gold financing company Muthoot Finance on Wednesday said that it will raise over Rs 900 crore through its initial share sale offer, which will begin on April 18.

The company has set a price band of Rs 160-175 a share for the Initial public offering (IPO) of 5.15 crore equity shares, a public notice of the company said.

The Rs 901.25-crore IPO, opening on April 18, would close on April 20 for QIB bidders and on April 21 for retail and non-institutional investors.

At the lower end of the price band, the company will raise Rs 824 crore, while on the upper end it will mop up Rs 901.25 crore.

The issue will constitute 13.85 per cent of the fully-diluted post issue paid-up equity share capital of the company, it said.

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

The IPO proceeds will be utilised to supplement the company's capital base for meeting future capital needs, for funding of loans and for general corporate purposes, it added.

Kerala-based Muthoot Finance is a non-deposit taking, non-banking finance company.

(Agencies)