Muthoot Finance has acquired 3.95 crore equity shares of Muthoot Homefin (India) (MHIL) by subscribing to preferential issue of shares having nominal value of Rs 10 per share at an issue price of Rs 11.37 per share, investing Rs 44.91 crore. MHIL is a Housing Finance Company licensed by National Housing Bank.
Post-acquisition, Muthoot Finance holds 79% of the equity share capital of MHIL making MHIL its subsidiary. The issued and paid up capital of MHIL is stands at Rs 50 crore after the above allotment.
Muthoot Finance is the largest gold financing company in India in terms of loan portfolio. The company is a Systemically Important Non-deposit taking NBFC headquartered in the southern Indian state of Kerala and with its corporate office in New Delhi.
