Muthoot Pappachan Group plans IPO for MFI arm - Muthoot FinCorp
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Muthoot Pappachan Group plans IPO for MFI arm

17-Oct-2017

Muthoot Pappachan Group plans IPO for MFI arm

Mumbai: Kerala-based Muthoot Microfin, a subsidiary of the gold loan player Muthoot FinCorp, is planning an IPO in 2019.

The company said the IPO will to support expansion of our microfinance business we are preparing ourselves for an IPO. As of today we are the fourth largest MFI.

As part of the IPO, the MFI is also planning to divest some equity to a PE player and plans to raise USD50 million, the company said, adding last December it had raised $20 million from the Chicago-based PE firm Creation Investment.

So far in FY18, the MFI has already raised Rs,058 crore of funding, which includes Rs. 75 crore of listed NCDs, Rs. 398 crore of term loans from banks, and Rs. 585 crore of direct assignment of priority sector portfolio with various banks.

Originally Posted on: Livemint Logo

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Beware of fraudulent job consultants

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:

Muthoot FinCorp Ltd.

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

Phone: 0471 4911550 / 0471 4911430

Email: [email protected]

162.158.62.121