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In 2010, Muthoot Finance sold 4% of its shares in a private equity round to Barings Bank and Matrix Partners, raising ₹ 157 crore (US$34.33 million). [ 9 ] [ 10 ] Later in 2011, Muthoot Finance publicly listed its shares on the two biggest stock exchanges in India National Stock Exchange of India and Bombay Stock Exchange . [ 11 ]
The company was incorporated as a private limited company on 14 March 1997 with the name "The Muthoot Finance Private Limited" under the Companies Act. [7] On 18 November 2008, the company was converted into a public limited company with the name "Muthoot Finance Limited". [8] During the year 2009–10, the company added 620 new branches. [9]
Muthoot Pappachan Group, also known as Muthoot Blue, is an Indian financial services conglomerate founded in 1887 by Ninan Mathai Muthoot. [ 4 ] [ 5 ] [ 6 ] Headquartered in Thiruvananthapuram , Kerala , the group has a workforce of more than 26,000 employees across 4,200 branches in India.
The conglomerate has since grown exponentially, and is currently present in over 16 diversified industries in 4 different countries. Alexander Muthoot is also the managing director of Muthoot Finance, a pioneer in Gold Banking. With over INR 263.87 bn in Assets Under Management, Muthoot Finance is India's Largest Gold Loan company (as of May 2013).
Muthoot Microfin is predominantly owned by Muthoot Fincorp and the Muthoot family, who collectively possess a controlling stake of 71% in the company. In addition, London-based private equity firm GPC (Greater Pacific Capital) holds an ownership interest of 16.6%, [ 24 ] [ 25 ] [ 26 ] while Chicago-based private equity fund Creation Investments ...
Muthoot's first job was as an office assistant in the family's bank. In 1979, he became managing director of the bank. He was appointed chairman of Muthoot Group in February 1993. [citation needed] At the time he took over the operations at Muthoot, the Group had 31 branches in four states, namely Kerala, Delhi, Chandigarh, and Haryana.
The NIFTY 50 is an Indian stock market index that represents the float-weighted average of 50 of the largest Indian companies listed on the National Stock Exchange. [1] [2] Nifty 50 is owned and managed by NSE Indices, which is a wholly owned subsidiary of the National Stock Exchange of India.
George Joseph is chairman and non-executive independent director at Wonderla Amusement Park and Resort, non-executive independent director at Muthoot Finance and he is the ex-chairman and managing director of Syndicate Bank. He took over as the chairman and managing director on 2 August 2008. He joined Syndicate Bank in April 2006 as executive ...
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