The Board of Directors of Muthoot Money has yesterday completed the allotment of 3,30,578 equity shares to Muthoot Finance for a consideration of Rs 499.99 crore.
Muthoot Money is a wholly owned subsidiary of Muthoot Finance.
Additional equity infusion is made in order to strengthen the capital base and improve the capital adequacy ratio. Funds raised through the rights issue will be utilized for funding the business, general corporate purposes and for repayment of existing loans.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
