Muthoot Finance Limited is the largest gold financing company in India in terms of loan portfolio. The company provides personal and business loans secured by gold jewellery or Gold Loans primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable time or to whom credit may not be available at all to meet unanticipated or other short-term liquidity requirements. The company is headquartered in Kerala.The company's wholly-owned subsidiary Muthoot Insurance Brokers Pvt Limited (MIBPL) is licensed as a direct broker by IRDAI since 2013 and is actively distributing both life and non-life insurance products of various insurance companies. Muthoot Finance's another wholly-owned subsidiary Muthoot Homefin (India) Limited is a housing finance company with a focus on affordable housing finance. Muthoot Finance's subsidiary Belstar Investment and Finance Private Limited (BIFPL) is a microfinance company. Muthoot Finance holds 66.61% of equity share capital of BIFPL. Muthoot Finance's foreign subsidiary Asia Asset Finance PLC (AAF) Colombo is involved in Retail Finance Hire Purchase & Business Loans.Muthoot Finance Ltd was incorporated on March 14 1997 as a private company with the name The Muthoot Finance Pvt Ltd. The company is promoted by M G George Muthoot George Thomas Muthoot George Jacob Muthoot and George Alexander Muthoot. The company's operating history evolved over a period of 70 years since M George Muthoot (the father of the promoters) founded a gold loan business in 1939 under the heritage of a trading business established by his father Ninan Mathai Muthoot in 1887.In the year 2001 the company obtained the license from RBI to function as an NBFC. In the year 2005 as per the scheme of amalgamation Muthoot Enterprises Private Ltd was amalgamated with the company with effect from March 22 2005. In May 16 2007 the name of the company was changed from The Muthoot Finance Pvt Ltd to Muthoot Finance Pvt Ltd. During the year 2008-09 the company opened 278 new branches across various states. Also they opened regional offices in Sales and Visakhapatnam.In November 18 2008 the company was converted into public limited company and the name was changed to Muthoot Finance Ltd. They obtained fresh RBI license to function as an NBFC without accepting public deposits consequent to change in name.During the year 2009-10 the company added 620 new branches. As per the scheme of de-merger the radio business of the company was de-merged and transferred to Muthoot Broadcasting Pvt Ltd with effect from January 01 2010.The company opened 316 new branched between April 2010 to August 2010. During the year 2010 the company's branch network crossed 1600 branches retail loan portfolio crossed Rs 7400 crore retail debenture portfolio crossed Rs 2700 crore net owned funds crossed Rs 500 crore gross annual income crossed Rs 1000 crore and bank credit limits crossed Rs 1700 crore.In 2011 the company's retail loan portfolio crossed Rs 15800 crore retail debenture portfolio crossed Rs 3900 crore net owned funds crossed Rs 1300 crore gross annual income crossed Rs 2300 crore bank credit limit crossed Rs 6000 crore and branch network crossed 2700 branches. During the year Muthoot Finance received PE investments of Rs 255.68 crore from Matrix partners LLC The Welcome Trust Kotak PE Kotak Investments and Baring India PE. In April 2011 Muthoot Finance successfully raised Rs 901.25 crore from an initial public offer. In 2012 Muthoot Finance's retail Loan portfolio crossed Rs 24600 crore retail debenture portfolio crossed Rs 6600 crore net owned funds crossed Rs 2900 crore gross annual income crossed Rs 4500 crore bank credit limit crossed Rs 9200 crore and branch network crossed 3600 branches. During the year the company raised Rs 693 crore through Non-convertible Debenture Public Issue- Series I and Rs 459 crore through Non-convertible Debenture Public Issue - Series II.In 2013 Muthoot Finance's branch network crossed 4400 branches. During the year the company raised Rs 259 crore through Non-convertible Debenture Public Issue- Series III Rs 277 crore through NCD Public Issue - Series IV and Rs 300 crore through NCD Public Issue - Series V. During the year the company obtained RBI license to start operating 9000 White Label ATMs.In 2014 Muthoot Finance raised Rs 418 crore through the oversubscribed (1.8 times) Institutional Placement Progrmame (IPP). During the year the company acquired 51 per cent equity shares of Colombo-based Asia Asset Finance PLC (AAF).In 2015 Muthoot Finance's retail loan portfolio reached Rs 23409 crore net owned funds crossed Rs 5000 crore gross annual income reached Rs 4325 crore and profit after tax reached Rs 671 crore.In 2016 Muthoot Finance's retail loan portfolio crossed Rs 24300 crore net owned funds crossed Rs 5500 crore gross annual income reached Rs 4875 crore and profit after tax for the year reached Rs 810 crore. During the year the company acquired 79% of the equity capital of Muthoot Homefin (India) Limited (MHIL). MHIL is a housing finance company registered with The National Housing Bank. In June 2016 Muthoot Finance acquired Muthoot Insurance Brokers Private Limited (MIBPL) as a wholly-owned subsidiary. MIBPL is an unlisted private limited company holding a licence to act as direct broker from IRDA since 2013. In July 2016 Muthoot Finance acquired 46.83% of the capital of Belstar Investment and Finance Private Limited (BIFPL). BIFPL was reclassified as an `NBFC-MFI' by RBI with effect from 11 December 2013. In 2016 credit rating agencies CRISIL and ICRA upgraded Muthoot Finance's long-term debt rating. The Board of Directors of Muthoot Finance in its meeting held on 13 February 2017 decided to make an additional investment in M/s. Muthoot Homefin (India) Limited (MHIL) a subsidiary company by way of purchase of 17 lakh equity shares of face value Rs. 10/- each at a price of Rs. 11.37/- per share aggregating to Rs. 1.93 crore approximately from an existing shareholder. Post the investment Muthoot Finance Ltd. will have 88.27% shareholding in MHIL.On 18 September 2017 Muthoot Finance announced that it has completed the acquisition of Muthoot Homefin (India) Limited (MHIL) by way of purchase of 88 lakh equity shares of face value Rs. 10/- each at a price of Rs. 44/- per share aggregating to Rs. 38.72 crore from existing shareholders and has made a further investment by subscribing to 2.27 crore equity shares of nominal value of Rs. 10/- each at Rs. 44/- each as approved by the Board at its meeting held on 8 August 2017. Post investment the Muthoot Finance is holding 100% paid up share capital of MHIL and MHIL has become the wholly owned subsidiary of Muthoot Finance Ltd.On 23 March 2018 Muthoot Finance announced that the company has further invested in 14 lakh Equity Shares of nominal value of Rs 10 each at a total price of Rs 7 crore by way of subscription to rights issue of Belstar Investment and Finance Private Limited. With this investment the company has increased its shareholding in aforesaid subsidiary to 66.61% from existing shareholding of 64.60%.On 5 July 2018 Muthoot Finance announced that it has agreed in principle to acquire shares as well as subscribe to equity shares of Muthoot Money Pvt Ltd (MMPL) which will result in the change of management/control of MMPL. This is with the intention of further diversifying its business activities. MMPL is engaged in lending and other businesses primarily vehicle finance business.On 20 July 2018 Muthoot Finance announced that Securities and Exchange Board of India (SEBI) has provided its primary approval to the company for setting up Asset Management Company and Trustee Company along with other compliance under SEBI (Mutual Fund) Regulations 1996 in order to get registered with SEBI for the proposed mutual fund. The company has to complete the registration process within 6 months of the primary approval in order to get registered with SEBI for setting up proposed mutual fund Business subject to further regulatory approvals.