 "Muthoot Finance")
Belstar Microfinance Limited (BML), a subsidiary of Muthoot Finance Ltd, on Friday said it has raised equity capital of Rs 275 crore from a new investor Affirma Capital and others.
Existing investors Muthoot Finance and Maj Invest also participated in the latest funding round.
The funding will help the microfinance player to strengthen its balance sheet and also support in growing the loan book, Muthoot Finance Managing Director George Alexander Muthoot said in a release.
BML is an RBI-registered microfinance NBFC, and a subsidiary company where Muthoot Finance holds 70.01 per cent stake.
For the nine months ended FY22, its loan portfolio increased by 33 per cent year-on-year to Rs 3,836 crore as against Rs 2,886 crore in the year-ago period.
During the third quarter of FY22, its loan portfolio rose by Rs 482 crore.
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