Muthoot Finance fully acquires Muthoot Homefin

Muthoot Finance today said it has completed acquisition of Muthoot Homefin (India) by buying additional 88 lakh shares for Rs 38.72 crore and has made a further investment by subscribing to 2.27 crore equity shares.
"The company has completed the acquisition of Muthoot Homefin (India) Ltd (MHIL) by way of purchase of 88 lakh equity shares 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," it said in a regulatory filing.
Post the investment, now it holds 100 per cent paid up share of MHIL, which is now its wholly owned subsidiary.

The housing finance company lends only to affordable home loan customer, with end users contributing nearly 90 per cent of its loan book.
Muthoot Finance stock closed 1.12 per cent up at Rs 511.35 on BSE today.