Muthoot FinCorp in talks with foreign PEs to raise Rs 500 crore - Muthoot FinCorp
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Muthoot FinCorp in talks with foreign PEs to raise Rs 500 crore


Muthoot FinCorp in talks with foreign PEs to raise Rs 500 crore

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.

The fundraising in the micro finance business is expected to conclude in a couple of months and the funds will be used for business expansion. The transaction will help the company more than double its asset book from Rs. 2,100 crore to Rs 5,000 crore in two to three years. “We are diversifying as a full-fledged financial services firm, and will be completing the portfolio diversification in its full measure and then plan an IPO,” he said. The financial services verticals (gold loan, low value housing loans, two-wheeler loans, microfinance, MSME) of the Muthoot Pappachan Group, put together, aims to grow its loan disbursement by 35-40% this financial year. Last year, it had disbursed Rs.18,000 crore.
Originally Posted on: The economic times logo
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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:

Muthoot FinCorp Ltd.

MG Road, Near Spencer's, Trivandrum - 695 039

Phone: 0471 4911550 / 0471 4911430

Email: [email protected]