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Muthoot Finance has completed the acquisition of Muthoot Homefin (India) (MHIL) by way of purchase of 88,00,000 equity shares of face value Rs. 10/- each at a price of Rs. 44/- per share aggregating to Rs. 38.72 crore from existing shareholders and has made a further investment by subscribing to 2,27,27,272 equity shares of nominal value of Rs. 10/- each at Rs. 44/- each, as approved by the Board at its meeting held on 08 August 2017.
Post investment, the Company is holding 100% paid up share capital of MHIL which is Rs. 97,72,72,720/- consisting of 9,77,27,272 equity shares of Rs 10/- each, and MHIL has become the wholly owned subsidiary of Muthoot Finance.
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