Muthoot Microfin
Indian loan company
From Wikipedia, the free encyclopedia
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]
 | |
| Company type | Public |
|---|---|
| Industry | Financial services |
| Founded | 2010 |
| Headquarters | Kochi, India |
Key people | |
| Services | Microfinance |
| Revenue |  ₹1,428 crore (US$170 million) (FY23)[4] |
| ₹163 crore (US$19 million) (FY23)[4] | |
| Owner | Muthoot Fincorp (72.36%)[4] |
| Parent | Muthoot Pappachan Group |
| Website | muthootmicrofin |
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
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]