Muthoot Pappachan Group

Muthoot Microfin on Friday announced foray in Telangana and will inaugurate four branches in the state during March in the first phase of expansion. These branches will serve locations including Bhuvanagiri, Jangaon, Hanmakonda and Parakala, enhancing accessibility to financial services, the company said in a release. Subsequently, Muthoot Microfin plans to further establish branches in Andhra Pradesh by June 2024, reinforcing its commitment to advancing financial inclusion in the two states. "In line with our growth strategy of increasing our distribution network and acquiring new customers, we will further expand our operations in Telangana. Soon, we will be entering Andhra Pradesh as well," said Sadaf Sayeed, CEO, Muthoot Microfin. Muthoot Microfin is a part of Muthoot Pappachan Group (also known as Muthoot Blue). It provides financial assistance through micro loans such as income generating loans to women engaged in small businesses. The company has 3.28 million active custome

State Bank of India has purchased non convertible debentures (NCDs) worth Rs 200 crore issued by Muthoot Fincorp. The flagship company of 136-year-old Muthoot Pappachan Group on Tuesday said the debt issue has a five-year maturity with half-yearly being the frequency of the interest payment. However it didn't reveal the pricing of the issue. Shaji Varghese, CEO of the company said the proceeds from the NCD issue will be utilised for onward lending, business operations and further expansion and growth plan. Muthoot Fincorp has over 3,600 branches across the country and offers gold loans, small business loans, auto loans, home loans and loans against property, among others.

Muthoot Microfin IPO: Shares of the company are trading at a premium of Rs 90 in the unlisted market, translating into a listing premium of 31 per cent

Muthoot Microfin, the microfinance arm of the Muthoot Pappachan Group, is planning to tap the capital markets with an initial share sale offer of Rs 1,500-1,800 crore by the last quarter of 2023. Delhi-based Muthoot Microfin is promoted by Muthoot Fincorp, which is the third-largest gold loan player and the flagship firm of Muthoot Pappachan Group. This is the third largest MFI with a client base of 2.2 million across 18 states and served by its 1,008 branches. As of September 2022, the company had an active loan book of Rs 7,500 crore. We are planning a Rs 1,500-1,800-crore IPO by the fourth quarter of 2023 and expected to file the IPO papers with the Sebi by May 2023, Thomas Muthoot, managing director of Muthoot Microfin, told PTI on Wednesday from Kochi. At Rs 1,500-1,800 crore, our IPO will be the largest from the MFI segment, Muthoot said, adding that Muthoot Microfin will also be the first MFI to cross the Rs 10,000-crore AUM mark by the time of listing. Muthoot Fincorp and

Company plans public offering in 2-3 yrs, targets AUM of Rs 10,000 cr

These companies are prepared to lend more to customers as the price of gold mortgaged by them has gone up sharply, making them eligible for larger loans

The company is planning to expand its chit fund business in Kerala, Karnataka and Tamil Nadu in the near future

The company said the IPO will to support expansion of our microfinance business we are preparing ourselves for an IPO

To make platinum accessible to the common consumers, Muthoot Exim, the precious metals division Muthoot Pappachan Group, today launched India's first ever range of non jewellery platinum products.The company has introduced Lord Ganesha idol in 3g, 6g and 9g of 95 per cent purity of platinum on upto six months installment basis. Under the scheme, a buyer can fix the price after paying 15 per cent as upfront money on a condition of paying the remaining 85 per cent in upto six equal installments. Consumers, however, would have options to pay earlier to get the delivery of the product. The 3g idol is available at Rs 10,500 and 6gm at Rs 20,500. Consumers will have to forego around 30 per cent of making charges on selling the idol back to Muthoot Exim. Named as "Anantavarsham Platinum Series", the new range of non jewellery products aims to give Indian customers unprecedented access to affordable platinum products, purchased via savings and accumulation plans. The launch is part of a new ..

After the initiative was launched in November 2015, the company was able to recycle 140 kg of used gold

The company has launched seven Muthoot Gold Point centres last fiscal year and plans to open another seven centres during the current fiscal year