Corporate News 03-Mar-16
Muthoot Finance acquires stake in Muthoot Homefin (India)
Invest Rs 44.91 crore to acquire 3.95 crore shares of Muthoot Homefin (India)
Muthoot Finance announced that the Company has acquired 3.95 crore equity shares of Muthoot Homefin (India) (MHIL) by subscribing to preferential issue of shares having nominal value of Rs.10 per share at an issue price of Rs. 11.37 per share, investing Rs. 44.91 crore. Post-acquisition, Muthoot Finance holds 79% of the equity share capital of MHIL making MHIL its subsidiary. The issued and paid up capital of MHIL is stands at Rs. 50 crore after the above allotment.
MHIL is a Housing Finance Company licensed by National Housing Bank.
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