Belstar Microfinance to raise Rs. 275 crores

Belstar Microfinance Limited ("Belstar"), a subsidiary of Muthoot Finance Limited has obtained the approval from the Reserve Bank of India for a primary equity infusion of Rs. 275 Crores into Belstar. Belstar along with its Promoters, Arum Holdings Limited, MAJ Invest Financial Inclusion Fund II K/S, and Muthoot Finance Ltd have signed an Amended Shareholders Agreement dated 25th February 2022 to give effect to said infusion of capital into Belstar as per the abovementioned approval and a secondary offer for sale by Promoters for a total consideration of Rs. 20 Crores.

The proposed equity infusion of Rs. 275 Crores in Belstar Microfinance Limited will be as under:

Arum Holdings Limited - Rs. 225 Crores
MAJ Invest Financial Inclusion Fund II K/S - Rs. 22 Crores
Muthoot Finance Limited - Rs. 28 Crores

Shares of Muthoot Finance Limited was last trading in BSE at Rs. 1347.90 as compared to the previous close of Rs. 1314.70. The total number of shares traded during the day was 25686 in over 1681 trades.

The stock hit an intraday high of Rs. 1352.25 and intraday low of 1325.15. The net turnover during the day was Rs. 34466042.00.

Source : Equity Bulls

Keywords

MuthootFinance INE414G01012 BelstarMicrofinance FundInfusion ArumHoldings RBIApproval