PE Fund Investments
Muthoot Microfin raises $10-M more from Greater Pacific Capital
Muthoot Microfin, the microfinance arm of the Thiruvanathapuram-based Muthoot Pappachan Group, has raised an additional USD 10 million (about INR 81.6 crore) from Greater Pacific Capital. With this round, the fund's stake in Muthoot Microfin has increased to 16.6%. Greater Pacific had previously invested USD 50 million in December 2021. Prior to the latest round, Creation Investments had held a 9.8% stake in the company and Greater Pacific, 14.4%. Muthoot Microfin is the fourth largest MFI in the country with an asset under management of INR 7,300 crore and 1,000 branches across 18 states, serving 23 lakh women entrepreneurs. During FY22, its AUM grew 25% and profit reportedly surged six folds.
From the Venture Intelligence PE-VC Deal Database: Between Dec-16 and Dec-21, Muthoot Microfin had raised over USD 73 M from Creation Investments and Greater Pacific.(Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
Want to receive such news items in your inbox? Click Here to sign up for a trial.
