Muthoot Finance raises stake in subsidiary Belstar to 64.6%

Muthoot Finance has raised its stake further in subsidiary firm Belstar Investment and Finance Pvt Ltd (BIFPL) to 64.60 per cent.

PTI| Last Updated: Dec 31, 2016, 16:40 PM IST
 Muthoot Finance raises stake in subsidiary Belstar to 64.6%

New Delhi: Muthoot Finance has raised its stake further in subsidiary firm Belstar Investment and Finance Pvt Ltd (BIFPL) to 64.60 per cent.

Earlier, company's stake was at 57.16 per cent in Belstar Investment and Finance.

"The company has further acquired 1,728,571 equity shares of nominal value of Rs 10 each at a total price of Rs 7.26 crore from existing shareholders," Muthoot Finance said in a regulatory filing.

BIFPL is a non-banking finance company (NBFC-MFI).

Shares of the company closed 0.62 per cent higher at Rs 282.25 on BSE.