Muthoot Finance has further invested in 14,00,000 equity shares of nominal value of Rs 10 each at a total price of Rs 7 crore by way of subscription to rights issue of Belstar Investment and Finance.
With this investment, the company has increased its shareholding in aforesaid subsidiary to 66.61% from existing shareholding of 64.60%.
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.
