Lawstreet Journal

Muthoot Microfin to raise Rs. 350 crores by selling its shares by the end of 2021

Lawstreet Journal 15 Jun 2021 4:56pm

Image courtesy: Lawstreet Journal Business Muthoot Microfin to raise Rs. 350 crores by selling its shares by the end of 2021

Muthoot Microfin is planning to raise Rs 350 crore by selling shares during the current economic year to fund business growth. 

Muthoot Pappachan Group is also looking to raise Rs 100 crore from Tier-II bonds. Muthoot is currently working in 17 states and union territories. At the same time, the company plans to enter Uttarakhand too. Company is looking to garner USD 50 million or about Rs 350 crore equity capital to grow and build balance sheet . 

Muthoot Microfin Chief Executive Officer Sadaf Sayeed in a statement to his effect said,

" Once the situation improves the business and collection should be back to normal as we had experienced last year. capital infusion will help the company not only  to bolster its balance sheet but also to  expand it’s reach ."

Hiring During pandemic period

Even during the pandemic, the company hired 2300 of it’s employees, as it opened 64 new offices in different parts of the country. Now Company plans to enter Utharakhand.

AUM expected  8000 crore next financial year

Muthoot Microfin expects its Assets Under Management (AUM) to be Rs 6500 crore by March 2022 and Rs 8000 crore in the next financial year. The company’s AUM increased by six percent to Rs 5227 crore from Rs 4232 crore at the end of March 2020.

Capital adequacy end of march 2021

At the end of March 2021, the micro-finance institution had a capital adequacy ratio of 26.75 per cent. The company says that it is currently the… Continue Reading...

Tagged: Muthoot Finance  
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