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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] In 2014, Muthoot Finance acquired a majority stake in Asia Asset Finance plc, a Sri Lankan publicly-listed financial services company. [10]
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.
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]
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Muthoot Microfin Limited [5] is an Indian microfinance institution (MFI), headquartered in Kochi. It primarily provides unsecured microloans to women in rural areas. [ 6 ] It is a part of Muthoot Pappachan Group .
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).
The following is a list of the world's largest publicly traded financial services companies, ordered by annual sales for the latest Fiscal Year that ended March 31, 2018 or prior (all public companies with sales of $20 billion or more are included, while privately held companies are not included).
In January 2013, Muthoot Finance was awarded The SKOCH Award for Financial Inclusion. [5] M.G George Muthoot was honored with the Distinguished and Outstanding Alumnus of 2015 award instituted by Manipal University. [6] Muthoot was ranked 50th with $1.10 bn in the list of Indian billionaires by Forbes in October 2011. [7]