Greater Pacific Capital invests $50 mn in Muthoot Microfin's expansion plan

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

Muthoot Microfin Ltd (MML), a unit of Muthoot Pappachan Group, has received about Rs 375 crore ($50 million) as equity capital from institutional investor Greater Pacific Capital to support its business growth plans. There is an option for infusion of additional $34 million, subject to RBI approval.

Sadaf Sayeed, Chief Executive Officer, MFL, said with this round of funding, the capital adequacy ratio is expected to rise above 30 per cent. The capital adequacy was about 22 per cent in September 2021.

The company will look to double assets under management (AUM) from Rs 5,000 crore ($670 million) currently to