Muthoot Homefin to raise Rs 100 crore

Parent Muthoot Finance Board gives nod to infuse the money

Muthoot Finance will acquire the remaining 11.73 per cent stake in Muthoot Homefin (India) Ltd at an aggregate price of  Rs 38.72 crore and will also infuse Rs 100 crore into the company as equity share capital. 

With  this acquisition, Muthoot Home Finance will become  a wholly owned  subsidiary.  

During the quarter, its loan portfolio increased by Rs 155 crore at Rs 596 crore.

Meanwhile, Muthoot Finance reported a 30 per cent growth in net profit at Rs 351 crore during the first quarter of fiscal 2018 as against Rs 270 crore in the year-ago period

Loan assets registered an increase by Rs 574 crore during the first quarter.