Muthoot promoters may dilute 10% stake

Promoters of leading gold loan company Muthoot Finance may dilute their stake by up to 10 per cent to raise funds in the next financial year. "We are exploring options to raise fresh equity for long- term resources to an extent promoters' holding dilution of another 10 per cent from 80 per cent now," Muthoot Managing Director George Alexander Muthoot said. However, this would be done if valuations are attractive to the company, and private placement to QIB, PE funds are most likely, he said.