Muthoot Finance has received an approval to make an additional investment in Muthoot Homefin (India) (MHIL), a subsidiary company by way of purchase of 17,00,000 equity shares of face value Rs 10 each at a price of Rs 11.37 per share aggregating to Rs 1.93 crore approximately from an existing shareholder. Post the investment, Muthoot Finance will have 88.27% shareholding in MHIL. The board of directors at its meeting held on February 13, 2017 has approved for the same.
Muthoot Finance is a non-banking financial company (NBFC), which is engaged in providing loan (financing) against collateral of gold jewelry. The Company offers gold loans, foreign inward money transfer services, foreign exchange services, insurance broking, home loans, personal loans, collection services, microfinance, windmill power generation, white label automated teller machine, instant money transfer services and domestic money transfer services.