Muthoot Finance’s promoters are planning to reduce their holding in the company by a little over 5% to 75%, within the next 18 months, by issuing additional equity to an investor. The dilution is to meet the listing requirement; at least 25% of the shares should be with the public and also to raise equity capital.
Currently, the promoters own 80% of the share capital of Rs 371.70 crore, institutions holds another 18%, whereas the public holds only 2%.
Muthoot Finance is a non-deposit taking systemically important non-banking finance company (NBFC). It is primarily in the business of lending against used household gold jewellery to individuals.
