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Muthoot Capital Services gets approval for right issue

06 Jul 2011 Evaluate

Muthoot Capital Services has received an approval in regards to the letter of offer for the rights issue of 65 lakhs equity shares at a price of Rs 80 per share, inclusive of a premium of Rs 70 per share in the ratio of one equity share for every one fully paid equity share. The company has received an approval for right issue at its board meeting held on July 02, 2011.

Recently, Muthoot Capital Services (MCSL) was planning to introduce a product for providing loans against Gold Exchange Traded Funds (ETF) in an order to provide liquidity for investors in Gold (ETF). This was the first time that such a loan finance scheme is being introduced in the country.

Muthoot Capital Services is a Non Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI). It offers capital market solutions that include leasing and hire purchase, vehicle loans and bonds and deposits among others, with cost-effective value-added services for the benefit of their customers. The company has also diversified into fund and non-fund based activities laying equal emphasis on the corporate and non-corporate sectors of Kerala.

Muthoot Capital Serv Share Price

209.00 -16.50 (-7.32%)
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