Muthoot Capital moves up on bagging Rs 100 crore impact funding for Electric Vehicle portfolio
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Muthoot Capital Services is currently trading at Rs. 324.05, up by 6.55 points or 2.06% from its previous closing of Rs. 317.50 on the BSE.
The scrip opened at Rs. 323.85 and has touched a high and low of Rs. 327.55 and Rs. 318.30 respectively. So far 211 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 458.00 on 10-Oct-2023 and a 52 week low of Rs. 265.00 on 27-Mar-2024.
Last one week high and low of the scrip stood at Rs. 350.00 and Rs. 295.70 respectively. The current market cap of the company is Rs. 535.20 crore.
The promoters holding in the company stood at 62.62%, while Institutions and Non-Institutions held 2.16% and 35.22% respectively.
Muthoot Capital Services has entered into partnership with UK based Development Financial Institution for raising long term debt funds to promote its electric vehicle portfolio. Facilitated by Axis Bank, the collaboration entails a deal size of Rs 100 crore, highlighting the significance and commitment of Muthoot Capital in providing sustainable mobility solutions and its efforts in driving widespread adoption of electric vehicles in India especially among the lower middle-income segment.
This is one of the largest partnership deal bagged by Muthoot Capital for its sustainability and environmental led initiatives. While the company is currently involved in electric vehicles through co-lending route, it plans to grow its own EV book by around Rs 200 crore during FY25.
Muthoot Capital Services is one of India's Most Progressive Automobile Finance Companies.
