Muthoot Finance and other promoters to infuse Rs350cr in Belstar Microfinance; Stock gains 1%

Additionally, the agreement also included a secondary offer for sale by Promoters and Muthoot Finance for a total consideration of Rs20cr.

Aug 26, 2021 01:08 IST India Infoline News Service

Muthoot Finance
Muthoot Finance-led subsidiary, Belstar Microfinance has entered into definitive agreements with its Promoters, Augusta Investments IV PTE, Arum Holdings, MAJ Invest Financial Inclusion Fund II K/S and the company for a proposed primary equity infusion of Rs350cr in Belstar.

Among the total Rs350cr, Muthoot Finance will infuse Rs28cr, while Augusta Investments IV and MAJ Invest Financial Inclusion Fund II K/S to invest Rs75cr and Rs22cr respectively. Arum Holdings will make the largest equity infusion to the tune of Rs225cr.

Additionally, the agreement also included a secondary offer for sale by Promoters and Muthoot Finance for a total consideration of Rs20cr.

At around 1.09 pm, Muthoot Finance was trading up by 0.9% at Rs1494.55 per piece on Sensex. 

Related Story

Open Free Demat Account (Rs699)