Muthoot Fincorp on Saturday announced plans to go public and raise up to ₹4,000 crore through an initial public offering (IPO).The non-bank lender reported a net profit of ₹1,640 crore for FY26, more than double of the ₹787 crore in in FY25.The gold loan-focused non-bank lender's IPO will comprise a fresh issue of equity shares which can be deployed for future growth, as per an official statement.The decision for an IPO was taken at a board meeting on Saturday.Without sharing any details on the timelines, the statement said the issue is subject to shareholder approval, market conditions and regulatory clearances.The IPO activity is very lull in FY26, after a very busy FY25, where companies raised record amounts. However, most of the IPOs were secondary transactions where existing investors were exiting and concerns were also raised about fresh issuances.Alongside the IPO plan, the Muthoot board also approved a stock split, subdividing equity shares of face value ₹10 into five shares of ₹2 each, a move generally aimed at improving liquidity and retail participation.The company, part of the Muthoot Pappachan Group, has been expanding its lending operations and diversifying its borrowing sources.It also approved plans to raise up to ₹4,000 crore via public issuance of non-convertible debentures (NCDs) and an equivalent amount through private placements, in addition to a commercial paper programme with an overall limit of ₹30,000 crore.