Muthoot Finance has received approval for an additional equity infusion of Rs 500 crore in Muthoot Money, a wholly-owned subsidiary of the company. Additional equity infusion is proposed to be made in order to strengthen the capital base and improve the capital adequacy ratio. The said transaction is expected to be completed in 1 month. The Board of Directors of the company at their meeting held on November 14, 2024, has approved the same.
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.
