Muthoot Microfin gains on initiating loan disbursals under co-lending partnership with SBI
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Muthoot Microfin is currently trading at Rs. 187.35, up by 0.30 points or 0.16% from its previous closing of Rs. 187.05 on the BSE.
The scrip opened at Rs. 187.05 and has touched a high and low of Rs. 190.00 and Rs. 185.75 respectively. So far 7340 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 280.80 on 26-Dec-2023 and a 52 week low of Rs. 181.10 on 21-Nov-2024.
Last one week high and low of the scrip stood at Rs. 193.85 and Rs. 181.10 respectively. The current market cap of the company is Rs. 3167.74 crore.
The promoters holding in the company stood at 55.47%, while Institutions and Non-Institutions held 28.43% and 16.11% respectively.
Muthoot Microfin, a leading microfinance institution headquartered in Kochi, has initiated loan disbursals under its co-lending partnership with the State Bank of India (SBI), the country’s largest lender. Under this collaboration, SBI has sanctioned Asset creation cap of Rs 500 crore, to be disbursed in tranches of Rs 100 crore. Loans ranging from Rs 50,000 to Rs 3 lakh will be extended to identified and eligible customers, focusing primarily on members of Joint Liability Groups (JLGs) engaged in agricultural and allied activities, as well as other income-generating ventures.
Currently operating across 20 states and 369 districts, Muthoot Microfin plans to make this initiative available pan-India, ensuring broader access to credit for rural entrepreneurs. The collaboration with SBI enables lower interest rates, making loans more affordable for borrowers while driving financial inclusion and fostering self-sufficiency in underserved communities.
Muthoot Microfin is primarily engaged in providing financial assistance through micro loans to women engaged in small income generating activities.
