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MUMBAI: Muthoot FinCorp is in advanced talks with foreign private equity funds to raise Rs 400-500 crore for its microfinance business as it looks to expand its diversified lending portfolio with more consumer-centric products and insulate itself from the impact of volatile gold prices.
“Yes, we are looking to raise funds and are in serious talks with some large foreign PE funds. I cannot divulge any names at this moment. This is part of our strategy to de-risk assets by diversifying into non-gold credit businesses,” Muthoot FinCorp chairman Thomas John Muthoot told ET. Muthoot FinCorp is the flagship of the Muthoot Pappachan Group.
It has been brought to our notice that certain individuals are receiving fraudulent emails, phone calls, and messages, etc, about job vacancies with Muthoot FinCorp and they are also being asked to deposit money in certain bank accounts.
Please be informed that such communications and practices are completely mala fide and sent with an intent to defraud the public and bring disrepute to the goodwill of our Company. Our Company does not ever demand any fee/money against recruitment nor for the application/interview process.
The public at large is hereby cautioned not to be misled by any such communications received through emails, message or any other communication mode.
Please contact us for further information about the genuineness or otherwise of such communications at: