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Muthoottu Mini Financiers launches 3 more zonal offices for greater customer experience
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CARE Ratings upgrades Muthoottu Mini Financiers Ltd to BBB+ from BBB
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Muthoottu Mini Financiers Ltd posts 18 percent growth in the financial year 2020-21
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Muthoottu Mini Financiers eyes 100 new branches, increasing booksize by ₹1,500 cr this FY
Surabhi
Mumbai |
Updated on
Expects to hit ₹7,000 crore assets under management by 2024
Muthoottu Mini Financiers is looking to open about 100 branches this fiscal and increase its book size by ₹1,500 crore.
“This fiscal year, we have planned to open 100 branches as part of our expansion. We are predominantly a South India based company with presence throughout India. We are looking at opening further branches in Andhra Pradesh, Telangana along with a few more branches in Delhi- NCR, Mumbai and Gujarat,” said Mathew Muthoottu, Managing Director, Muthoottu Mini Financiers.
The company has also set a target to grow the book size by ₹1,500 crore by the end of this fiscal year, he said.
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NEW DELHI: Fund raising through issuance of debentures dropped 29 per cent to Rs 10,587 crore in 2020-21 due to decline in credit ratings and escalated risk of default on COVID-19 induced disruptions in capital intensive businesses.
Going forward, experts say, the ongoing financial year (2021-22) will see some attractive numbers in non-convertible debenture (NCD) fund raising. We should see money mobilization through NCD route to the tune of 2018-19 levels in FY22 as many companies are entering capex cycle, GDP is projected to grow in double digits and bond yields have started to go up making more case for NCD issuances, Divam Sharma, co-founder at Green Portfolio, said.