Muthoot Homefin becomes subsidiary of Muthoot Finance
Muthoot Finance has completed the acquisition of Muthoot Homefin (India) (MHIL) by way of purchase of 88,00,000 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 2,27,27,272 equity shares of nominal value of Rs. 10/- each at Rs. 44/- each, as approved by the Board at its meeting held on 08 August 2017.Post investment, the Company is holding 100% paid up share capital of MHIL which is Rs. 97,72,72,720/- consisting of 9,77,27,272 equity shares of Rs 10/- each, and MHIL has become the wholly owned subsidiary of Muthoot Finance.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content