Muthoot Microfin

Last updated
Muthoot Microfin Ltd
Company type Public
Industry Financial services
Founded2010
Headquarters Kochi, India
Key people
  • Sadaf Sayeed (CEO) [1]
  • Udeesh Ullas (COO) [2]
  • Praveen T (CFO) [3]
Services Microfinance
RevenueIncrease2.svg₹1,428 crore (US$180 million) (FY23) [4]
Increase2.svg₹163 crore (US$20 million) (FY23) [4]
OwnerMuthoot Fincorp (72.36%) [4]
Parent Muthoot Pappachan Group
Website muthootmicrofin.com

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. [7] [8] [9] [10]

Contents

History

The microfinance business was originally established as a division of Muthoot Fincorp Limited in 2010. [11] [12] In December 2011, the Muthoot Pappachan Group acquired Pancharatna Securities Ltd, a non-banking financial company (NBFC) based in Mumbai, and subsequently rebranded it as Muthoot Microfin Limited (MML). [13] [14] [15]

In March 2015, Muthoot Microfin Limited (MML) obtained a microfinance institution (MFI) license as a non-banking financial company (NBFC-MFI) from the Reserve Bank of India. [13] [16] [17]

In 2021, Muthoot Microfin Ltd launched Mahila Mitra app to help rural women beneficiaries with repayment. [18] [19]

Operations

Muthoot Microfin operates in 18 states with 1,172 branches and over 10,000 employees. [20] [21] As of March 31, 2023, Muthoot Microfin has a portfolio size of ₹9,200 crore with a borrower base of 2.7 million women entrepreneurs. [22] [23]

Ownership

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 Capital Management holds 9.3%. [27] [28]

Related Research Articles

Droom Technology Limited is an Indian company that maintains an online marketplace for buying and selling used and new automobiles. Founded in April 2014, the company is based in Gurugram, Haryana and also operates in Singapore, Thailand, and Malaysia, besides 1,161 Indian town and cities. In July 2021, Droom became Unicorn after raising $200 Mn in a pre-IPO funding round at a valuation of $1.2 billion.

<span class="mw-page-title-main">Economy of Gujarat</span>

The economy of Gujarat, a state in Western India, is the most industrialised in India, having the highest industrial output of any state in the union.It has the highest exports of any Indian state, accounting for 33% of all Indian exports in 2022-23. It leads in diverse industrial sectors such as chemicals, petrochemicals, dairy, drugs and pharmaceuticals, cement and ceramics, gems and jewellery, textiles and engineering. It has the highest Electricity Production Capacity and Maritime Port Cargo Volume among all states in India. It also has significant agricultural production with major agricultural produce of the state being cotton, groundnuts (peanuts), dates, sugar cane, milk and milk products. Gujarat recorded the lowest unemployment rate in India in 2022, with 4.4% of the labour force being unemployed.

The Muthoot Group is an Indian multinational conglomerate headquartered in Kochi, Kerala. It has interests in financial services, information technology, media, healthcare, education, power generation, infrastructure, plantations, precious metal, restaurant, and hospitality. Muthoot Group operates in 29 states in India, and has presence in Nepal, Sri Lanka, US, UK and UAE. The group manages assets of over $4.5 billion. It is owned and managed by the Muthoot family.

Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 of India, engaged in the business of loans and advances, acquisition of shares, stock, bonds, hire-purchase insurance business or chit-fund business, but does not include any institution whose principal business is that of agriculture, industrial activity, purchase or sale of any goods or providing any services and sale/purchase/construction of immovable property.

Poonawalla Fincorp Limited is an Indian non-banking financial company (NBFC) engaged in consumer and MSME financing. It is headquartered in Pune and is part of the Cyrus Poonawalla Group.

<span class="mw-page-title-main">Muthoot Pappachan Group</span> Indian financial services conglomerate

Muthoot Pappachan Group, also known as Muthoot Blue, is an Indian financial services conglomerate founded in 1887 by Ninan Mathai Muthoot. Headquartered in Thiruvananthapuram, Kerala, the group has a workforce of more than 26,000 employees across 4,200 branches in India. Apart from financial services, the group has business interests in hospitality, automotive dealerships, real estate, healthcare, IT services, precious metals, alternate energy, and security services.

<span class="mw-page-title-main">Muthoot Finance</span> Indian financial services company

Muthoot Finance Ltd is an Indian financial corporation and the largest gold loan NBFC in the country. In addition to financing gold loans, the company offers other forms of loans, insurance and money transfer services, and sells gold coins. The company is headquartered in Kochi, Kerala and operates over 5000 branches throughout the country. Outside India, Muthoot Finance is established in the UK, the US, and the United Arab Emirates.

V. P. Nandakumar is an Indian businessman hailing from Valapad in Thrissur District of Kerala. He is the managing director and chief executive officer of Manappuram Finance Limited.

<span class="mw-page-title-main">IndiaMART</span> Indian e-commerce company

IndiaMART InterMESH Ltd is an Indian e-commerce company headquartered in Noida which has been listed as a "notorious market" since 2018 by the USTR for selling counterfeit products and illegal pharmaceuticals. It provides B2B and customer to customer sales services via its web portal. The company began in 1996 when Dinesh Agarwal and Brijesh Agrawal founded the website IndiaMART.com, a business-to-business portal to connect Indian manufacturers with buyers.

Bandhan Bank Ltd. is a banking and financial services company, headquartered in Kolkata. Bandhan Bank is present in 35 out of 36 states and union territories of India, with 6,250 banking outlets and 3.26 crore customers. Having received the universal banking licence from the Reserve Bank of India, Bandhan Bank started operations on August 23, 2015, with 501 branches, 50 ATMs and 2,022 Banking Units (BUs). The Bank has mobilised deposits of ₹1,17,422 crore and its total advances stand at ₹1,15,940 crore as of December 31, 2023.

Bajaj Finance Limited (BFL) is an Indian non-banking financial company headquartered in Pune. It is one of the leading non-banking financial companies (NBFCs) of India with a customer base of 73 million and holds assets under management worth ₹270,050 crore (US$34 billion).

<span class="mw-page-title-main">ESAF Small Finance Bank</span> Indian small finance bank

ESAF Small Finance Bank is an Indian small finance bank headquartered in Thrissur, Kerala, providing banking services and small loans to the underbanked. Having started its operations as an NGO in 1992 under the name of Evangelical Social Action Forum, ESAF Microfinance was a non-banking finance company and microfinance institution (NBFC-MFI), licensed by the Reserve Bank of India (RBI). It became a small finance bank in March 2017.

<span class="mw-page-title-main">IDFC First Bank</span> Indian private sector bank

IDFC FIRST Bank is an Indian private sector bank formed by the merger of the banking arm of Infrastructure Development Finance Company and Capital First, an Indian non-bank financial institution. It is the first universal bank to offer monthly interest credit on savings accounts, lifetime free credit cards with dynamic and low annual percentage rates.

<span class="mw-page-title-main">VFS Capital</span> Indian non-banking financial company

VFS Capital Limited formerly known as Village Financial Services Ltd (VFS), is headquartered in Kolkata, was incorporated on 28 June 1994, as a private limited company before it got its present name.

Aavas Financiers, also known as Aavas, is a Jaipur based housing finance company known for providing home loans in the rural and semi-urban locations of India. Aavas is registered with National Housing Bank as a Housing Finance Company and was granted the license in August 2011.

Paisabazaar is an Indian digital loan and credit card platform. It is a part of PB Fintech. In 2020, Paisabazaar was India's largest digital consumer credit marketplace, with a 51.4% market share in terms of disbursals.

The Good Glamm Group is a content-to-commerce company that produces and sells personal care and cosmetic products, with operations in India, Dubai, Singapore, and the USA. The company was recognized in New York-based Beauty Matter's Future50 list of global beauty companies, and in 2021 achieved unicorn status after a $150 million Series D funding round at a valuation of $1.2 billion. The group announced plans to launch an IPO on 30 August 2022.

The Moms Co. is an Indian mother and baby healthcare company. It was established by Malika Sadani and Mohit Sadani in 2016, and its headquarters are located in Gurgaon, Haryana.

CreditAccess Grameen Limited is an Indian microfinance institution, headquartered in Bengaluru, which serves customers predominantly in rural areas. The company is engaged in providing microfinance services to women from low-income households who are enrolled as members and organized in Joint Liability Groups.

Siddhartha Bhaiya is an Indian PMS fund manager and the founder of Aequitas Investment Consultancy, an investment management firm based in Mumbai, India. He serves as the managing director and chief executive officer of the company.

References

  1. ↑ "Our aim is to provide financial support to disadvantaged women: Sadaf Sayeed, Muthoot Microfin". Financialexpress. 2022-02-01. Retrieved 2023-08-26.
  2. ↑ "Udeesh Ullas, Muthoot Microfin Ltd: Profile and Biography". Bloomberg.com. Retrieved 2023-07-23.
  3. ↑ Livemint (2021-07-15). "Muthoot Microfin raises Rs75 crore via market-linked debentures". mint. Retrieved 2023-07-23.
  4. 1 2 3 "Muthoot Microfin refiles draft papers with SEBI to raise Rs 1,350 crore via IPO". Moneycontrol. 1 July 2023. Retrieved 2 August 2023.
  5. ↑ "Home - Muthoot Microfin" . Retrieved 2022-04-19.
  6. ↑ "Our aim is to provide financial support to disadvantaged women: Sadaf Sayeed, Muthoot Microfin". Financial Express. 1 February 2022. Retrieved 18 December 2023.
  7. ↑ "Muthoot Microfin gets $50 million equity funding from GPC". The Hindu. 2021-12-06. ISSN   0971-751X . Retrieved 2022-04-19.
  8. ↑ Bhatla, Prabhjeet. "Muthoot Microfin Raises INR 75 Cr Via Market-Linked Debentures". Entrepreneur. Retrieved 2022-04-19.
  9. ↑ "Muthoot Microfin raises Rs75 crore via market-linked debentures". livemint. 2021-07-15. Retrieved 2022-04-19.
  10. ↑ "Muthoot Microfin secures USD 10 mn from Greater Pacific Capital". The Times of India. October 3, 2022. Retrieved 2022-10-17.
  11. ↑ "Rating Rationale". www.crisil.com. Retrieved 2023-04-05.
  12. ↑ "SEBI" (PDF).
  13. 1 2 "Muthoot Microfin Limited" (PDF). Securities and Exchange Board of India . Retrieved 14 April 2022.
  14. ↑ "Muthoot Microfin enters digital healthcare; To offer E-clinic services in rural India to its customers". Financialexpress. Retrieved 2022-07-08.
  15. ↑ "Muthoot Microfin to offer healthcare in rural India via e-clinics". mint. 2022-03-09. Retrieved 2022-07-08.
  16. ↑ Rebello, Joel. "Muthoot Microfin looking at listing in March". The Economic Times. Retrieved 2022-04-19.
  17. ↑ Ray, Atmadip. "UK's Greater Pacific to invest $10 m in Muthoot Microfin". The Economic Times. Retrieved 2022-10-18.
  18. ↑ Shantanu, Shashank (2021-08-25). "How this microfinance firm is empowering women entrepreneurs in rural India with an app". www.indiatvnews.com. Retrieved 2022-04-14.
  19. ↑ "Muthoot Microfin News & Analysis". NDTV.com. 2024.
  20. ↑ "Muthoot Microfin riles revised IPO papers to raise Rs 1,350 crore". TimesNow. 2023-07-01. Retrieved 2023-09-04.
  21. ↑ "Muthoot Pappachan Group plans Rs 1,800-cr IPO for MFI arm". The Economic Times. 2022-11-09. ISSN   0013-0389 . Retrieved 2023-09-04.
  22. ↑ "Muthoot Microfin to provide loan in 30 minutes through app". The Times of India. 2023-06-05. ISSN   0971-8257 . Retrieved 2023-09-04.
  23. ↑ Bureau, BL Kochi (2023-05-07). "Muthoot Microfin clocks ₹203 crore profit for FY23". BusinessLine. Retrieved 2023-09-04.
  24. ↑ Ray, Atmadip (2021-12-07). "Greater Pacific acquires 14% in Muthoot Microfin". The Economic Times. ISSN   0013-0389 . Retrieved 2023-08-26.
  25. ↑ "Muthoot Microfin secures $10 mn from Greater Pacific Capital". Moneycontrol. 2022-10-03. Retrieved 2023-08-26.
  26. ↑ Ray, Atmadip (2022-09-13). "UK's Greater Pacific to invest $10 m in Muthoot Microfin". The Economic Times. ISSN   0013-0389 . Retrieved 2023-08-26.
  27. ↑ "Muthoot Microfin to raise Rs 130 cr from Creation Investments". India Today. Retrieved 2023-08-26.
  28. ↑ "Muthoot Pappachan Group raises Rs 130 cr from Chicago-based PE fund Creation Investments". BusinessLine. 2017-01-25. Retrieved 2023-08-26.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.