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Wednesday, May 4, 2011

Muthoot Finance Limited to list on "Akshaya Tritiya"

The Equity Shares of Muthoot Finance Limited, which has recently raised funds through an IPO, would be listed and admitted to the dealings on the exchange with effect from Friday, May 06, 2011, which also happens to be "Akshaya Tritiya" or "Akha Teej", one of the most auspicious days of the Hindu Calendar

The equity shares of Muthoot Finance Limited will be listed and admitted to dealings on the Exchanges in the list of ‘B’ Group of Securities. The Issue Price of shares offered under Muthoot Finance IPO was fixed at Rs. 175/- per share (Face Value of Rs.10/- and premium of Rs. 165/- per equity share)

Muthoot Finance Limited is the largest gold financing company in India in terms of loan portfolio, according to IMaCS Industry Report (2010 Update). It provides personal and business loans secured by gold jewellery, or Gold Loans, primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable time, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements
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