Muthoot Finance Limited — JV/Acquisition, 27-12-2024: Acquisition

Muthoot Finance Limited has completed the infusion of additional equity into its wholly-owned subsidiary, Muthoot Money Limited, by allotting 3,30,578 equity shares for a total consideration of ₹499.99 Cr. This strategic move aims to fortify the capital base and enhance the capital adequacy ratio. The raised funds will be utilized for business expansion, general corporate purposes, and repayment of existing loans. Muthoot Money operates in the Non-Banking Financial Services sector and achieved a turnover of ₹1,231.53 Cr in FY 2023-24, reflecting a significant growth trajectory.