Muthoot is currently working in 17 states and union territories.
Muthoot Microfin expects its assets under management (AUM) to be Rs 6500 crore by March 2022 and Rs 8000 crore in the next financial year. At the end of March 2020, the company’s AUM increased by six percent from Rs 4232 crore to Rs 5227 crore.
New Delhi. Muthoot Microfin to grow your business It is working on a plan to raise Rs 350 crore. For this, the company will sell its shares by the end of this year. Muthoot Microfin CEO Sadaf Sayeed said that we are raising capital of about Rs 350 crore. He said that by December 2021, we would be looking for private placements. By means of Investors will raise. Currently US-based Investor Creation Investments holds an 11.4 percent stake in the company, which is on board positions. He further said that capital infusion will not only help the company to strengthen its balance sheet, but it will also enable us to expand.
The company will also enter Uttarakhand
Sadaf Saeed said that at present the company is working in 17 states and union territories. At the same time, now the company plans to enter Uttarakhand too. Even during the Corona epidemic, the company hired 2300 of its employees, as it opened 64 new offices in different parts of the country.
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AUM 8000 crore expected
The company expects its assets under management (AUM) to be Rs 6500 crore by March 2022 and Rs 8000 crore in the next financial year. The company’s AUM increased by six percent to Rs 5227 crore from Rs 4232 crore at the end of March 2020. The lockdown will have an impact on collections and may increase non-performing assets (NPAs) on a temporary basis. Once the situation improves, business and collections should be normal as we experienced last year.
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Over 19 lakh women entrepreneurs
At the end of March 2021, the micro-finance institution had a capital adequacy ratio of 26.75 per cent. The company says that it is currently the sixth largest NBFC-MFI in the country with over 19 lakh women entrepreneurs as its active customers.