Muthoot Finance has completed the acquisition of Muthoot Homefin (India) (MHIL) by way of purchase of 88,00,000 equity shares of face value Rs 10 each at a price of Rs 44 per share aggregating to Rs 38.72 crore from existing shareholders and has made a further investment by subscribing to 2,27,27,272 equity shares of nominal value of Rs 10 each at Rs 44 each, as approved by the Board at its meeting held on August 08, 2017.
Post investment, the company is holding 100% paid up share capital of MHIL which is Rs 97,72,72,720 consisting of 9,77,27,272 equity shares of Rs 10 each, and MHIL has become the wholly owned subsidiary of the company.
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 etc.
