Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

New Delhi, Nov 22 () Muthoot Finance on Friday said it will acquire IDBI Asset Management for Rs 215 crore to enter mutual fund space.
The deal, which is subject to necessary regulatory approvals including markets regulator Sebi, is expected to be completed by February-end 2020, Muthoot Finance said in a statement.
Promoted by IDBI Bank in 2010, IDBI Mutual Fund is one of the profit making AMCs in the space with an asset base of over Rs 5,300 crore. The fund house runs 22 schemes with robust asset base across products, geography and investors.
Muthoot Finance said it has "entered into a definitive agreement to acquire IDBI Asset Management (AMC) and IDBI MF Trustee Company".
Upon completion of the transaction, Muthoot Finance will purchase 100 equity shares of IDBI AMC and IDBI MF Trustee Company held by the sellers for a total consideration of Rs 215 crore.
"IDBI Mutual Fund is a trusted player in the mutual fund space with a steady loyal customer base. At Muthoot we pride ourselves in venturing into mutual fund space through such an established player.
"The business objectives and customer centric approach that we follow within Muthoot Group is well aligned with the business objectives of mutual fund industry. We are excited to venture into this new path in the financial services space," Muthoot Finance MD George Alexander Muthoot said.
ICICI Securities acted as the advisors in the transaction to sellers. AZB &amp; Partners was the legal advisor to Muthoot Finance, while J Sagar Associates acted as the legal advisor to the sellers.
In October, Baroda Asset Management and BNP Paribas Asset Management announced to merge their businesses in a bid to leverage each other's strengths to offer products for retail and institutional investors.
Currently, the country's mutual fund industry has 44 players managing assets to the tune of more than Rs 26 lakh crore. SP BAL

Muthoot Finance to buy IDBI AMC, foray into mutual fund space

<ul><li><keyword id="163007" type="General" weightage="80" keywordseo="muthoot-finance" source="Orion">Muthoot Finance</keyword>'s new <keyword id="6354839" type="General" weightage="20" keywordseo="marketing" source="Orion">marketing</keyword> campaign titled 'Haathi Pe Bharosa Karogey Toh Pakka Jeetogey!' is all about having belief and trust in the brand, which has two elephants in its logo.</li><li>The integrated campaign will be seen across television, print, outdoor, internet and point of sale, besides other mediums.</li></ul>Financial services brand Muthoot Finance has launched its new marketing campaign titled “Haathi Pe Bharosa Karogey Toh Pakka Jeetogey!”. The integrated campaign will be seen across television, print, outdoor, internet and point of sale, besides other mediums. <div type="Youtube" id="ZpFUp9_P4X8" title="Muthoot Finance- Haathi Pe Bharosa Karogey Toh Pakka Jeetogey!" thumbUrl="https://i.ytimg.com/vi/ZpFUp9_P4X8/mqdefault.jpg"></div> The new campaign is all about having belief and trust in the brand, which has two elephants in its logo. The campaign is anchored by the brand’s ambassador, <keyword id="6357912" type="General" weightage="20" keywordseo="amitabh-bachchan" source="Orion">Amitabh Bachchan</keyword>. The stories in the 3-films are built around the game of chess, which Bachchan is playing against different players in each film. The important role of the Elephant or the Rook in a game of chess and as the emblem of the brand, is interestingly weaved into each film. In all the 3 films, the Elephant has been presented as a critical enabler that makes the player win each time. This win in a game of chess using the Elephant is a metaphor for winning in life by trusting the Muthoot Elephant and availing Muthoot Finance Gold Loans to realise your dreams. The strategy has been to build a sharp distinction for the brand and drive new customers towards it, especially those seeking an association with a Trusted Brand Leader like Muthoot Finance. The intrinsic advantages that come along with the brand have also been well-highlighted in each film such as unmatched pedigree &amp; experience spanning across centuries; being India’s Most Trusted Financial Services Brand for 5 years in a row; serving &amp; benefitting over 2.5 Lac customers every day and a widespread branch network of 5000+ branches pan-India. The 3 films underscore these advantages by creating a unique and new platform to broadcast them in a memorable way. <keyword id="1691048" type="General" weightage="20" keywordseo="alexander-george-muthoot" source="Orion">Alexander George Muthoot</keyword>, Joint Managing Director, The <keyword id="137710" type="General" weightage="20" keywordseo="muthoot-group" source="Orion">Muthoot Group</keyword> said, “Through this clutter breaking campaign, we present our brand in a distinguished and unique way through the game of chess. Our endeavor is to facilitate people lead a much better quality of life by helping them unlock the true potential of their emotional currency (household gold jewellery) and move ahead in life. Our objective is also to help grow the gold loan category, and being the category leader we consider it as our primary responsibility to lead the way. With +25,000 tons of gold in the form of household jewellery available in India and less than 5% of it being monetised by way of gold loans; the scope for growth is tremendous. I am confident this new communication of ours will pave the way for us to further strengthen our leadership position in the gold loan category.” Abhinav Iyer, General Manager - Marketing &amp; Strategy, The Muthoot Group shared details about the campaign and said, “In addition to growing the category, our objective was also to firmly establish Muthoot Finance’s emblem strongly in the minds of our existing and prospective customers. In a sector that has many players, it is critical to distinctly differentiate ourselves from the rest. We believe our new campaign ‘Haathi Pe Bharosa Karogey Toh Pakka Jeetogey’ will help create a strong visual identity for our brand logo synonymous to the product &amp; drive traffic to our branches and digital assets, powered by our unique value propositions.”

Muthoot Finance launches new marketing campaign featuring Amitabh Bachchan

The gold holdings of three Kerala companies- <keyword id="163007" type="COMPANY" weightage="20" keywordseo="Muthoot-Finance">Muthoot Finance</keyword>, <keyword id="127405" type="UNKNOWN" weightage="20" keywordseo="Manappuram-Finance">Manappuram Finance</keyword> and Muthoot Fincorp-are more than gold reserves of some of the richest nations such as Australia, Sweden, Singapore, etc. 
 
The gold holdings of these three gold loan companies in Kerala grew from 195 tonnes two years ago to nearly 263 tonnes towards the end of September 2016. 
 
In last two years, gold holdings of Muthoot Finance went up from 116 tonnes to 150 tonnes. It now holds more yellow metal in its vaults than the reserves of Singapore (127.4 tonnes), Sweden (125.7 tonnes), Australia (79.9 tonnes), Kuwait (79 tonnes), Denmark (66.5 tonnes) and Finland (49.1 tonnes). 
 Manappuram Finance has 65.9 tonnes and <keyword id="242359" type="COMPANY" weightage="20" keywordseo="Muthoot-Fincorp">Muthoot Fincorp</keyword> 46.88 tonnes. The combined holdings of the three are 262.78 tonnes. 
 
As per World Gold Council, India has the 11th largest gold reserves at 558 tonnes. The US heads the pack with 8,134 tonnes, while Germany and IMF come next (3,378 and 2,814 tonnes, respectively). 
 
The demand for gold in India is quite high as families find it trusted source of insurance.

Gold holdings of 3 Kerala companies stand at over 263 tonnes. This is more than Australia's gold reserves

New Delhi, <keyword id="2829846" type="PERSON" weightage="20" keywordseo="Muthoot-Homefin">Muthoot Homefin</keyword> aims to disburse <keyword id="35519" type="PERSON" weightage="20" keywordseo="home-loans">home loans</keyword> worth ₹700 crore in the upcoming financial year (FY2021-22). In a statement, the company said that over the past five years since its inception, <keyword id="6631254" type="DOMAIN" weightage="20" keywordseo="Muthoot">Muthoot</keyword> Homefin has disbursed over ₹2,600 crore home loans. Currently, it has assets under management (AUM) of ₹1,800 crore with <keyword id="6363823" type="UNKNOWN" weightage="20" keywordseo="operations">operations</keyword> in 16 states and Union territories of India serving more than 22,000 customers. "For the coming year, in addition to further penetration into the existing geographies, Muthoot Homefin also plans to expand its operations in the southern states of India and aims to disburse up to ₹700 crore of home loans in FY 2021-22," it said. It also added that the company's credit rating has been upgraded to "AA+ (stable)" from "AA (positive)" by Crisil during the week ended Friday and the upgrade will allow the company to raise funds at competitive interest rates, thereby passing on the benefits to its end customers, it added. George Alexander Muthoot, Managing Director said: "Muthoot Homefin is aiming to disburse Rs 700 crore of home loans in FY 2021-22. We are steadfastly progressing on taking the 'Housing for All' initiative of the government to the farthest tier II and III locations in the country in order to support the affordable housing needs and aspirations of every Indian." As of now, the company will be focusing on expanding its housing finance operations in the southern states of the country. "With the additional focus towards collections in FY2020-21, the company has been able to contain delinquencies on the portfolio during the pandemic and have now stabilised its collections," the MD said. Muthoot Homefin (India) Limited is a wholly-owned subsidiary of <keyword id="163007" type="DOMAIN" weightage="20" keywordseo="Muthoot-Finance">Muthoot Finance</keyword>. It operates as an affordable housing finance company. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/nurecas-100-crore-ipo-heres-how-to-check-share-allotment-status/articleshow/81135236.cms">Nureca’s ₹100 crore IPO: Here’s how to check share allotment status</a> <a href="https://www.businessinsider.in/travel/article/exploring-the-unreal-beauty-of-the-andaman-islands/articleshow/81126293.cms">Exploring the unreal beauty of the Andaman Islands</a> <a href="https://www.businessinsider.in/entertainment/news/pewdiepies-lyrics-targeting-cocomelon-and-jk-rowling-that-may-have-gotten-youtube-angry-enough-to-pull-the-video-down/articleshow/81102941.cms">PewDiePie's lyrics targeting CocoMelon and JK Rowling may have gotten YouTube angry enough to pull the video down</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-gets-leaner-with-a-300-million-jabong-write-off-as-ceo-kalyan-krishnamurthy-lists-out-the-priorities-for-2021/articleshow/81105083.cms">Flipkart gets leaner with a $300 million Jabong write-off as CEO Kalyan Krishnamurthy lists out the priorities for 2021</a>

Muthoot Homefin aims to disburse ₹700 crore home loans in FY22

<ul><li><keyword id="163007" type="General" weightage="20" keywordseo="muthoot-finance" source="Orion">Muthoot Finance</keyword> is one of the largest <keyword id="130134" type="General" weightage="20" keywordseo="gold-loan" source="Orion">gold loan</keyword> NBFC in India and it has been using its <keyword id="6354839" type="General" weightage="20" keywordseo="marketing" source="Orion">marketing</keyword> strategies effectively to make the brand a household name.</li><li><keyword id="9213956" type="General" weightage="20" keywordseo="abhinav-iyer" source="Orion">Abhinav Iyer</keyword>, GM, Marketing &amp; Strategy, Muthoot Finance tells us all the brand has been doing to not only grow its business but also to grow the category as a whole.</li></ul>It is no secret that Indians love gold. In fact, gold accounts for a large part of most Indian family’s wealth. While for years, securing loans against jewellery was looked at as a last resort, the last few years, especially the pandemic, has brought about an attitudinal shift in Indian consumers. Gold loans have been on a consistent rise over the last few years and this growth is coming from both micro enterprises and individuals. The pandemic hit many businesses and while things have been slowly moving towards normalcy, a lot of sectors still remain impacted, and people are still trying to find the balance. In such a scenario, gold loan has come up as both a convenient as well as a quick option to get cash. Over the years, there has been a shift in perception when it comes to taking a loan out on gold jewellery and one brand that has been trying to help the segment grow by trying to fasten this change is Muthoot Finance. Over the last few years, the brand has consistently stayed in the public consciousness with its marketing strategies. <keyword id="6357912" type="General" weightage="20" keywordseo="amitabh-bachchan" source="Orion">Amitabh Bachchan</keyword> has been a face of the brand for four years now. It has also been the Principal Team Partner for Chennai Super Kings, having turned it into a trusted, household name. <div type="Youtube" id="WZl9-VYIErY" title="Muthoot Finance - Haathi Pe Bharosa Karogey Toh Pakka Jeetogey - 2.5 Lakh Customers" thumbUrl="https://i.ytimg.com/vi/WZl9-VYIErY/mqdefault.jpg"></div> <div type="Youtube" id="ZpFUp9_P4X8" title="Muthoot Finance- Haathi Pe Bharosa Karogey Toh Pakka Jeetogey!" thumbUrl="https://i.ytimg.com/vi/ZpFUp9_P4X8/mqdefault.jpg"></div> We recently caught up with Abhinav Iyer, GM, Marketing &amp; Strategy, Muthoot Finance to understand how the pandemic impacted the company’s business and the role the brand has been playing in not only educating consumers about the sector but also helping the sector grow. Muthoot Finance’s growth story While the pandemic was not kind to many sectors and businesses, Muthoot Finance was able to sustain its growth, Iyer tells us. The consolidated AUM has grown by nearly 80% in the last three financial years from 2017-18 to 2020-21. Its consolidated net profit has grown by 114% during the same period. In other words, it has more than doubled during the said period. “We have grown considerably when it comes to our book size in the last few years. This year too, we are looking at growing our book size by 15%. We have made similar growth in terms of percentages when it comes to our profitability too. We serve over 2.5 lakh customers every day through our network of over 5000 branches. Contrary to common perception that we are a South-based brand, we are today a national brand, and grown consistently over the last decade,” shared Iyer. The brand has also been on an expansion mode. Over the last 2-3 years, it has added over 200 branches across the country. “If stock prices are a testament, we have made a healthy northward stride. From every stretch of imagination, we have grown, in terms of our physical branch presence, our customer base and our profitability over the last two, three years. And our marketing strategies have contributed considerably to this healthy and sustained growth,” added Iyer. Creating a winning marketing strategy It is often said that during times of crises, marketing budgets are usually the first to get slashed. We saw a lot of brands that stopped communicating with its consumers during the pandemic. However, Muthoot Finance is one brand that does not believe in this. In fact, it believes in staying in the public consciousness, staying constantly engaged. It has a half-yearly marketing strategy where it comes up with a high decibel campaign every six months, a strategy that has worked well for it. The brand recently launched its campaign ‘Hathi pe bharosa karoge toh pakka jeetoge’, featuring Amitabh Bachchan. The brand also recently launched the second season of its radio campaign called Muthoot Finance Sunheri Soch. At a time when more and more brands are steadily increasing their spends on Digital, while decreasing spends on traditional mediums, Muthoot Finance is one brand that has been consistently using mediums like Print, Radio and Outdoor. Speaking about its latest radio campaign, Iyer said, “Storytelling is the oldest form of teaching’ and we also believe that radio has always been seen as a credible and authentic medium of communication, hence we chose it as our primary medium of communication to reach out to our target audience and new customers. We also wanted to have a female voice this season and bring freshness to the table, hence this year we are extremely delighted to partner with <keyword id="6355846" type="General" weightage="20" keywordseo="madhuri-dixit" source="Orion">Madhuri Dixit</keyword> for Season 2. We have extensively researched and customized our series to be launched via radio alongside strong amplification across all prominent digital channels. We recorded a significant increase in our new customer acquisition and queries post the launch of Season 1. Thus, we did not hold back ourselves in investing again in radio and celebrating the art of <keyword id="282281" type="General" weightage="20" keywordseo="storytelling" source="Orion">storytelling</keyword>." On why the brand continues to invest on traditional mediums while also investing on newer mediums like Digital, Iyer added, “We are a national brand with around 5440 branches across India. More than 70% of our branches are in semi-urban and rural areas. We have served nearly 70 crore customer (including repeat customers) since our inception. So from all those parameters, we are a large, spread-out, national brand. So its important that some of these mass mediums are always there as part of our media mix. It would never be possible for us to do away with any of the mass mediums because the reach from mass media is critical for us. Meanwhile, digital is also a very important cog in the wheel. In the last three years, our digital and our IT teams have been working tirelessly to ensure the technological upgradation of our products and services. We launched our Gold Loan at home offering during the pandemic. That was a huge value-add from a technology perspective. There was a time you had to visit a branch to repay your loan interest. Today, you can do that using any digital payment platform, our chatbot or our WhatsApp business account. So today, it is not compulsory for people to visit the branch physically for availing loans or paying their interest. We are also investing substantially on digital marketing. Atleast 10% of our marketing budget is invested into digital marketing.” He also added that TV still makes for the largest chunk, between 40-45% of its marketing budgets. On what it got right when it comes to its marketing strategy, Iyer said it was a combination of a few things. “In the last few years, we have been on a marketing transformation journey. Firstly, partnering with Mr Bachchan has helped us cut across geographies, gender and age groups. Secondly, we partnered with Chennai Super Kings in 2018 when they were just coming back after a short break. <keyword id="6354832" type="General" weightage="20" keywordseo="ms-dhoni" source="Orion">MS Dhoni</keyword> is also someone who enjoys almost the same stature that Mr Bachchan does in Bollywood. He’s a trustworthy, dependable and balanced individual. So our partnership with CSK helped us in the Tamil Nadu market where we have about 900-950 branches. We have also been using transit medium very effectively and The Greater Kailash metro station and the Nandanam station in Chennai have our branding and it has completely transformed the stations. We also came up with a unique initiative during the Kumbh mela when we created huge gold lockers to help devotees keep their valuables at a safe place. This campaign helped us win numerous awards. Lastly, over the years, we have created a culture of launching half-yearly campaigns, new communications to bring about an attitudinal change in the minds of people. We try to be present throughout the years on all major ATL and BTL mediums. I believe these strategies have helped us grow as we are also trying to grow the category.” Owing to its presence in smaller towns and cities, the brand also focuses a lot on regional communications. The brand puts out its communications in 11 languages to ensure its reach is far and wide. Future areas of focus In what the scope for the segment is in the future, Iyer said, “Overall there are around 25,000 tonnes of gold (household jewellery) in the country and less than 5% of it is monetized. So there’s a huge potential for growth, both for us and the industry as a whole. So the focus would be on getting new customers to try and opt for gold loans. Its also a very simple product, you only pay interest for the number of days for which you have availed the loan. There is a whole lot of customer benefits which can help people benefit from the product. So our primary objective, even from a marketing perspective would be to grow the category significantly and help the category prosper by itself. We will also constantly keep working on bringing about an attitudinal change in people through our marketing and communications,” concluded Iyer.

Here’s how Muthoot Finance is bringing about a perception change around gold loans with its marketing initiatives

New Delhi, Feb 17 () Muthoot Finance shares on Monday touched a new high and closed over 17 per cent up after the company reported 66 per cent jump in consolidated net profit for December quarter.The stock settled 17.04 per cent up at Rs 873.85 on the BSE. During the day, it jumped 18.04 per cent to touch its 52-week high at Rs 881.35.On the NSE, it rose 17.75 per cent to close at Rs 879.50. It hit its 52-week high of Rs 882, gaining 18.08 per cent.More than 1.9 crore shares were traded on the NSE and 5.85 lakh units on the BSE.In terms of shares traded, the spurt in volume was more than 13.32 times on the BSE during the day.The market capitalisation of Muthoot Finance increased by over Rs 5,100 crore to Rs 35,038.65 crore. Muthoot Finance on Friday reported 66 per cent jump in consolidated net profit to Rs 803 crore for December quarter 2019.The company's net profit was at Rs 485 crore in the corresponding period a year ago. Total income increased by 35 per cent to Rs 2,313 crore during the quarter under review from Rs 1,717 crore in the year-ago period, it said in a release. RUJ ANUANU

Muthoot Finance stock up 17 pc, hits 52-week high

<ul><li>At 7:50 am, the SGX Nifty was up 0.15%, indicating a positive start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open in green on Wednesday, led by positive cues from the global markets. At 7:50 am, the SGX Nifty was up 0.15%, indicating a positive start for Nifty50. On Tuesday, the US stocks surged to a fresh lifetime-high as investors cheered the transition to the Biden administration. The Dow Jones Industrial Average scaled the 30,000 mark for the first time ever, and the S&amp;P 500 ended up 1.62%. These are the stocks to watch out for during the trading session today: RIL The telecom subsidiary Jio of Mukesh Ambani owned RIL has received the subscription amount of ₹33,737 crore from Google International LLC. Jio Platforms Limited has allotted equity shares to Google International, following which it now holds 7.73% of the fully-diluted equity share capital of Jio Platforms. The shares of RIL ended 1.04% higher on Tuesday. Muthoot Finance The RBI has turned down the proposal of Muthoot Finance to acquire IDBI Bank’s mutual fund business, saying sponsoring a mutual fund is not under the activity of an operating NBFC. According to a regulatory filing by IDBI Bank on Tuesday, a share purchase agreement with regard to the sale of IDBI Mutual Fund to Muthoot Finance was signed on November 22, 2019. The shares of Muthoot Finance ended 1.12% lower on Tuesday. Tata Chemicals Tata Chemicals announced that it had appointed N Chandrasekaran as an additional director and chairman of the board of directors of the company, effective November 24. Chandrasekaran also chairs the boards of several other Tata companies, including Tata Steel, Tata Motors, Tata Power, and Tata Consultancy Services (TCS). The shares of Tata Chemicals ended 3% higher on Tuesday. Lasa Supergenerics The Bombay High Court restrained Lasa Supergenerics competitors from manufacturing and dealing in Albendazole. It is one of the key products that make it a market leader worldwide. The shares of Lasa Supergenerics ended 6% higher on Tuesday. Glenmark The S&amp;P has affirmed Glenmark’s rating at BB- while the outlook has been revised to stable. The shares of Glenmark ended 0.24% higher on Tuesday. Ingersoll Rand India The Ingersoll Rand India OFS for non-retail investors was subscribed 2.73 times compared to the shares on offer. The shares of Ingersoll Rand India ended 7% lower on Tuesday. Sreeleathers The board of Sreeleathers approved buyback of up to 20 lakh shares worth ₹32 crore. The shares of Sreeleathers ended 0.64% higher on Tuesday. Hindustan Aeronautics The workmen unions of Hindustan Aeronautics at Bengaluru and Koraput Division have given notice of a nation-wide general strike on November 26. The shares of Hindustan Aeronautics ended 2.31% higher on Tuesday. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/dow-climbs-310-points-as-investors-cheer-transition-to-biden-administration/articleshow/79392874.cms" data-type="tilCustomLink">Dow surges above 30,000 for the first time as investors cheer transition to Biden administration</a> <a href="https://www.businessinsider.in/stock-market/news/indian-stock-market-sensex-and-nifty-hit-record-high-some-experts-say-it-is-the-final-leg-of-the-vaccine-euphoria/articleshow/79389670.cms" data-type="tilCustomLink">Markets hit record high — some experts say it is the final leg of the vaccine euphoria</a>

Top stocks to watch — RIL, Ingersoll Rand, Muthoot Finance, Tata Chemicals, Glenmark, and others

New Delhi, Feb 14 () Muthoot Finance Ltd on Friday reported 66 per cent jump in its consolidated net profit to Rs 803 crore in the third quarter ended December 31.The company's net profit was at Rs 485 crore in the corresponding October-December period of 2018-19.Total income increased by 35 per cent to Rs 2,313 crore during the reported quarter of 2019-20 from Rs 1,717 crore in the year-ago period, it said in a release.The gold financing company said its loan portfolio registered an increase in net profit of 50 per cent to Rs 2,191 crore for the nine months of FY20 as against Rs 1,461 crore in the previous year.Loan assets stood at Rs 38,498 crore as on December 31, 2019 compared to Rs 32,470 crore as on December 31, 2018, a growth of 19 per cent.During the quarter, gold loan assets increased by Rs 2,783 crore.Stock of Muthoot Finance closed at Rs 746.60 on the BSE, up 0.81 per cent from previous close. KPM BAL

Muthoot Finance Q3 net jumps 66 pc to Rs 803 cr

Mumbai, Mar 9 () Non-banking finance company Muthoot Fincorp on Monday said it has raised Rs 125 crore through issuance of covered bonds.Covered bonds are debt securities issued by a bank or financial institution and collateralized against a pool of assets that in case of failure of the issuer, can cover claims at any point of time.The company, which is a part of Muthoot Pappachan Group, issued bonds having a tenure of 28 months, offering a coupon of 9.5 per cent per annum payable monthly, a release said."While covered bond market has a considerable size of around Euro 2.6 trillion globally, it is still in a nascent stage in India with only a handful of issuances till date. This issue enables us to open to a vast market that has appetite for high rated bonds," Muthoot Fincorp's managing director Thomas John Muthoot said.The issue opened and closed on March 5.Unlike asset-backed securities created in securitization, the covered bonds continue as obligations of the issuer. The investor has recourse against the issuer and the collateral also known as dual recourse.Muthoot Fincorp provides retail finance, predominantly in the form of secured and unsecured loans to the middle and low income customers.The company claims to serve two million customers from its around 3,600 branches across the country. HV BALBALBAL

Muthoot Fincorp raises Rs 125 crore via bonds

<ul><li>At 7:49 am the SGX Nifty was trading 0.68% higher pointing towards a muted start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amid the weak cues from the global market, the sell-off in the Indian stock market is likely to continue. Meanwhile, at 7:49 am the SGX Nifty was trading 0.68% higher. US stocks fell for the third consecutive session on Monday in a row amid the fear of the second lockdown in Europe and the rising uncertainty on negotiations with the next round of fiscal stimulus in the US. The Dow Jones Industrial Average tanked 509.72 points, and the S&amp;P 500 lost 1.16% towards the end of trading Asian markets also opened on a weak note. Hong Kong’s Hang Seng Index was trading 185 points lower, and the Shanghai Composite Index was down nearly 1% at 8:05 am. These are the stocks to watch out for during the trading session on September 22: State Bank of India The country’s largest lender State Bank of India on Monday said it had raised ₹7,000 crores by issuing Basel III compliant bonds. “The Committee of Directors for Capital Raising at its meeting of held today on September 21, 2020, accorded its approval to allot 70,000 Basel III compliant non-convertible, taxable, redeemable...debt instruments in the nature of debentures aggregating to ₹7,000 crore, to bond subscribers,” SBI said in a regulatory filing to stock exchanges. The shares of SBI ended 4% lower yesterday. HSIL Limited The board of directors of HSIL in a meeting held yesterday approved the proposal for buyback of fully paid-up equity shares of the face value of ₹2 each from the open market, amounting to ₹70 crore. The shares of HSIL Limited ended 1% lower yesterday. Bombay Burmah Trading The Wadia group-owned, Bombay Burmah Trading told investors that its board would meet on September 24, to consider the proposal of raising up to ₹75 crore via non-convertible debentures. The company in a stock exchange filing said it aims to use that money for a private placement basis. The shares of Bombay Burmah Trading ended 2% lower yesterday. GMM Pfaudler GMM Pfaudler said the company's promoter would sell 25.71 lakh shares via offer for sale at a floor price set at ₹3,500 per share on September 22 and 23. The shares of GMM Pfaudler ended 3% lower yesterday. Muthoot Finance, Manappuram Finance, IIFL Finance Fitch Ratings took rating action on the long-term issuer default ratings of four non-bank financial companies. For Manappuram Finance rating has been affirmed at ‘BB-’ and ‘Rating Watch Negative’ (RWN) has been removed. Whereas Muthoot Finance’s rating has also been affirmed at ‘BB’, but RWN has been removed. The shares of Muthoot Finance, Manappuram Finance and IIFL Finance ended 6%, 4% and 5% lower yesterday, respectively. Route Mobile The recently debuted Route Mobile received a stellar response from investors. The company dominated the bulk deals on Monday. Goldman Sachs acquired 24.09 lakh shares at the debut for ₹705.95 per share, and Kuwait Investment Authority acquired 5.79 lakh shares at ₹697.25 per share. The shares of Route Mobile ended 8% lower yesterday. IPO watch: CAMS, Angel Broking and Chemcon Speciality Chemicals CAMS and Chemcon Speciality Chemicals were subscribed 0.82 times and 5.20 times respectively yesterday. Today is the day two for CAMS and Chemcon investors to invest in the IPO. Angel Broking IPO will open today for subscription and will remain open until September 24. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/interview-angel-broking-ceo-believes-the-600-crore-ipo-will-ride-the-digital-euphoria/articleshow/78235409.cms" data-type="tilCustomLink">INTERVIEW: Angel Broking CEO believes the ₹600 crore IPO will ride the ‘digital’ euphoria</a> <a href="https://www.businessinsider.in/business/corporates/news/chemcon-speciality-chemicals-318-crore-ipo-heres-what-works-and-what-doesnt/articleshow/78231465.cms" data-type="tilCustomLink">Chemcon Speciality Chemicals ₹318 crore IPO fully subscribed within two hours — Here’s what works and what doesn't</a>

Top stocks to watch— State Bank of India, GMM Pfaudler, HSIL, Route Mobile, Muthoot Finance, Manappuram Finance, CAMS, Chemcon and others

<keyword id="45442" type="COMPANY" weightage="20" keywordseo="Reliance-Industries-Limited">Reliance Industries Limited</keyword> (RIL) has said that it has applied for a payments bank licence in collaboration with the State Bank of India (SBI), which would have up to 30% stake in the joint venture (JV). 
 Earlier, Aditya Birla Nuvo Limited (<keyword id="193651" type="CITY" weightage="20" keywordseo="ABNL">ABNL</keyword>), which manages mobile operator Idea Cellular, and the Future Group had also applied for licences. According to ABNL, it is eyeing to own 51% in the bank and Idea will own the rest. 
 The Reserve Bank of India (<keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword>) would ultimately take a final decision on these applications. 
 Some of the applicants, including <keyword id="44373" type="CITY" weightage="20" keywordseo="Aditya-Birla-Group">Aditya Birla Group</keyword>, had also applied for full-fledged banking licences in 2013. However, their applications were rejected by the RBI. 
 
The RBI had issued licences to Infrastructure Development Finance Company (IDFC) and Bandhan to set up full-fledged banks in 2014. 
 
Muthoot Fincorp, which was looking to apply for a small finance bank, has now backed out. "The RBI guidelines say we have to convert the current business into small finance business. We are not sure how it will play out," said Muthoot Fincorp Executive Director Thomas Muthoot. 
 
Payments bank is allowed to raise deposits of up to Rs 1 lakh per individual. It can also issue ATM cards and sell products like mutual funds. However, they are not allowed to issue credit cards. 
Image: Thinkstock

RIL Joins Hands With SBI, Hopes To Get Payments Bank Licence

Mumbai, Feb 21 () Gold loan financier Muthoot Finance on Friday said it has raised USD 550 million (around Rs 3,900 crore) through dollar bond, offering a coupon of 4.4 per cent.The proceeds of the issue will be used for towards lending, the company said in a release.Last year in October, it had raised USD 450 million through its maiden three-year bond."The response from international bond investors in our second issue is quite overwhelming. This fund raise will enable us in further diversifying and strengthening our sources of funding," its chairman M G George Muthoot said. The transaction saw 37 per cent participation from Asia, 13 per cent from Europe and 50 per cent from the US.The bond was launched with an initial pricing guidance of 4.750 per cent on February 20, but with a strong demand from investors, the company was able to tighten pricing by 35 basis points to 4.4 per cent, the release said.Around 89 per cent of investments came from fund managers, six per cent from private banks, three per cent from insurance and banks and two per cent from others.The bonds will be listed on International Securities Market of the London Stock Exchange. Deutsche Bank and Standard Chartered Bank acted as the global coordinators and book runners for the issue. HV BALBAL

You Searched For "muthoot finance" and got 12 results

Muthoot Finance to buy IDBI AMC, foray into mutual fund space

PTI

Muthoot Finance launches new marketing campaign featuring Amitabh Bachchan

BI India Partner

Gold holdings of 3 Kerala companies stand at over 263 tonnes. This is more than Australia's gold reserves

BI India Bureau

Muthoot Homefin aims to disburse ₹700 crore home loans in FY22

IANS

Here’s how Muthoot Finance is bringing about a perception change around gold loans with its marketing initiatives

Samarpita Banerjee

Muthoot Finance stock up 17 pc, hits 52-week high

PTI

Top stocks to watch — RIL, Ingersoll Rand, Muthoot Finance, Tata Chemicals, Glenmark, and others

Navdeep Yadav

Muthoot Finance Q3 net jumps 66 pc to Rs 803 cr

PTI

Muthoot Fincorp raises Rs 125 crore via bonds

PTI

Top stocks to watch— State Bank of India, GMM Pfaudler, HSIL, Route Mobile, Muthoot Finance, Manappuram Finance, CAMS, Chemcon and others

Navdeep Yadav

RIL Joins Hands With SBI, Hopes To Get Payments Bank Licence

BI India Bureau

Muthoot Finance raises USD 550 million via bonds

PTI

Popular Keywords

Buying Guides