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Muthoot Finance falls after RBI rejects proposal of the company to acquire IDBI Bank's mutual fund business

25 Nov 2020 Evaluate

Muthoot Finance is currently trading at Rs. 1135.00, down by 3.10 points or 0.27% from its previous closing of Rs. 1138.10 on the BSE.

The scrip opened at Rs. 1146.00 and has touched a high and low of Rs. 1150.65 and Rs. 1126.05 respectively. So far 111287 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1405.00 on 28-Jul-2020 and a 52 week low of Rs. 477.50 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 1216.40 and Rs. 1122.05 respectively. The current market cap of the company is Rs. 45406.68 crore.

The promoters holding in the company stood at 73.40%, while Institutions and Non-Institutions held 21.63% and 4.97% respectively.

Reserve Bank of India (RBI) has turned down the proposal of Muthoot Finance to acquire IDBI Bank's mutual fund business, as sponsoring a mutual fund is not in consonance with the activity of an operating NBFC. Share purchase agreement with regard to sale of IDBI Mutual Fund to Muthoot Finance was signed on November 22, 2019.

The agreement was entered into by and between Muthoot Finance, IDBI Bank, IDBI Capital Markets & Securities, IDBI Asset Management and IDBI MF Trustee Company for acquisition by Muthoot Finance of 100% equity shares of IDBI Asset Management held by IDBI Bank and its nominees and IDBI Capital Markets & Securities, and 100 % equity shares of IDBI MF Trustee Company held by IDBI Bank and its nominees.

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.

Muthoot Finance Share Price

3570.65 -7.10 (-0.20%)
17-Apr-2026 16:59 View Price Chart
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