Muthoot Finance Ltd acquires additional Equity Shares of Belstar Microfinance Ltd

Muthoot Finance Limited has completed the acquisition of 2.05% equity stake in Belstar Microfinance Ltd, a Subsidiary through off-market acquisition from the Promoters.

Belstar Microfinance Limited is a subsidiary of Muthoot Finance Limited. Some of the Directors of Muthoot Finance Limited are directors on the Board of Belstar Microfinance Limited.

The acquisition helps Muthoot Finance Limited to increase its stake in Belstar Microfinance Limited to 59.02% from the existing shareholding of 56.97%.

Belstar Microfinance Limited is a subsidiary of Muthoot Finance Limited head quartered in the state of Tamil Nadu. Belstar Microfinance Limited is a micro finance company.

Shares of Muthoot Finance Limited was last trading in BSE at Rs. 1260.70 as compared to the previous close of Rs. 1288.95. The total number of shares traded during the day was 14855 in over 1605 trades.

The stock hit an intraday high of Rs. 1298.95 and intraday low of 1258.65. The net turnover during the day was Rs. 18936659.00.

Source : Equity Bulls

Keywords

MuthootFinance INE414G01012 BelstarMicrofinance