Muthoot Microfin
![]() | This article has multiple issues. Please help improve it or discuss these issues on the talk page. (Learn how and when to remove these template messages)
|
![]() | |
Company type | Public |
---|---|
Industry | Financial services |
Founded | 2010 |
Headquarters | Kochi, India |
Key people | |
Services | Microfinance |
Revenue | ![]() |
![]() | |
Owner | Muthoot Fincorp (72.36%)[4] |
Parent | Muthoot Pappachan Group |
Website | muthootmicrofin |
Muthoot Microfin Limited[5] is an Indian microfinance institution (MFI), headquartered in Kochi. It primarily provides unsecured microloans to women in rural areas.[6] It is a part of Muthoot Pappachan Group.[7][8][9][10]
History
[edit]The microfinance business was originally established as a division of Muthoot Fincorp Limited in 2010.[11][12] In December 2011, the Muthoot Pappachan Group acquired Pancharatna Securities Ltd, a non-banking financial company (NBFC) based in Mumbai, and subsequently rebranded it as Muthoot Microfin Limited (MML).[13][14][15]
In March 2015, Muthoot Microfin Limited (MML) obtained a microfinance institution (MFI) license as a non-banking financial company (NBFC-MFI) from the Reserve Bank of India.[13][16][17]
In 2021, Muthoot Microfin Ltd launched Mahila Mitra app to help rural women beneficiaries with repayment.[18][19]
Operations
[edit]Muthoot Microfin operates in 18 states with 1,172 branches and over 10,000 employees.[20][21] As of March 31, 2023, Muthoot Microfin has a portfolio size of ₹9,200 crore with a borrower base of 2.7 million women entrepreneurs.[22][23]
Ownership
[edit]Muthoot Microfin is predominantly owned by Muthoot Fincorp and the Muthoot family, who collectively possess a controlling stake of 71% in the company. In addition, London-based private equity firm GPC (Greater Pacific Capital) holds an ownership interest of 16.6%,[24][25] [26] while Chicago-based private equity fund Creation Investments Capital Management holds 9.3%.[27][28]
References
[edit]- ^ "Our aim is to provide financial support to disadvantaged women: Sadaf Sayeed, Muthoot Microfin". Financialexpress. 2022-02-01. Retrieved 2023-08-26.
- ^ "Udeesh Ullas, Muthoot Microfin Ltd: Profile and Biography". Bloomberg.com. Retrieved 2023-07-23.
- ^ Livemint (2021-07-15). "Muthoot Microfin raises Rs75 crore via market-linked debentures". mint. Retrieved 2023-07-23.
- ^ a b c "Muthoot Microfin refiles draft papers with SEBI to raise Rs 1,350 crore via IPO". Moneycontrol. 1 July 2023. Retrieved 2 August 2023.
- ^ "Home - Muthoot Microfin". Retrieved 2022-04-19.
- ^ "Our aim is to provide financial support to disadvantaged women: Sadaf Sayeed, Muthoot Microfin". Financial Express. 1 February 2022. Retrieved 18 December 2023.
- ^ "Muthoot Microfin gets $50 million equity funding from GPC". The Hindu. 2021-12-06. ISSN 0971-751X. Retrieved 2022-04-19.
- ^ Bhatla, Prabhjeet (15 July 2021). "Muthoot Microfin Raises INR 75 Cr Via Market-Linked Debentures". Entrepreneur. Retrieved 2022-04-19.
- ^ "Muthoot Microfin raises Rs75 crore via market-linked debentures". livemint. 2021-07-15. Retrieved 2022-04-19.
- ^ "Muthoot Microfin secures USD 10 mn from Greater Pacific Capital". The Times of India. October 3, 2022. Retrieved 2022-10-17.
- ^ "Rating Rationale". www.crisil.com. Retrieved 2023-04-05.
- ^ "SEBI" (PDF).
- ^ a b "Muthoot Microfin Limited" (PDF). Securities and Exchange Board of India. Retrieved 14 April 2022.
- ^ "Muthoot Microfin enters digital healthcare; To offer E-clinic services in rural India to its customers". Financialexpress. 9 March 2022. Retrieved 2022-07-08.
- ^ "Muthoot Microfin to offer healthcare in rural India via e-clinics". mint. 2022-03-09. Retrieved 2022-07-08.
- ^ Rebello, Joel. "Muthoot Microfin looking at listing in March". The Economic Times. Retrieved 2022-04-19.
- ^ Ray, Atmadip. "UK's Greater Pacific to invest $10 m in Muthoot Microfin". The Economic Times. Retrieved 2022-10-18.
- ^ Shantanu, Shashank (2021-08-25). "How this microfinance firm is empowering women entrepreneurs in rural India with an app". www.indiatvnews.com. Retrieved 2022-04-14.
- ^ "Muthoot Microfin News & Analysis". NDTV.com. 2024.
- ^ "Muthoot Microfin riles revised IPO papers to raise Rs 1,350 crore". TimesNow. 2023-07-01. Retrieved 2023-09-04.
- ^ "Muthoot Pappachan Group plans Rs 1,800-cr IPO for MFI arm". The Economic Times. 2022-11-09. ISSN 0013-0389. Retrieved 2023-09-04.
- ^ "Muthoot Microfin to provide loan in 30 minutes through app". The Times of India. 2023-06-05. ISSN 0971-8257. Retrieved 2023-09-04.
- ^ Bureau, BL Kochi (2023-05-07). "Muthoot Microfin clocks ₹203 crore profit for FY23". BusinessLine. Retrieved 2023-09-04.
{{cite web}}
:|last=
has generic name (help) - ^ Ray, Atmadip (2021-12-07). "Greater Pacific acquires 14% in Muthoot Microfin". The Economic Times. ISSN 0013-0389. Retrieved 2023-08-26.
- ^ "Muthoot Microfin secures $10 mn from Greater Pacific Capital". Moneycontrol. 2022-10-03. Retrieved 2023-08-26.
- ^ Ray, Atmadip (2022-09-13). "UK's Greater Pacific to invest $10 m in Muthoot Microfin". The Economic Times. ISSN 0013-0389. Retrieved 2023-08-26.
- ^ "Muthoot Microfin to raise Rs 130 cr from Creation Investments". India Today. 24 January 2017. Retrieved 2023-08-26.
- ^ "Muthoot Pappachan Group raises Rs 130 cr from Chicago-based PE fund Creation Investments". BusinessLine. 2017-01-25. Retrieved 2023-08-26.