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Last Update: Mon, May 21, 2012 7:36 AM IST (2:06 AM GMT)
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New Delhi: Indian non-banking finance company (NBFC) Muthoot Capital Services Ltd plans to raise around Rs 7 billion by the end of March 31, 2013 to expand its product offerings in four more states in the country, Managing Director Thomas George Muthoot said.
Of the total amount, the company expects to raise around 60% of the funds from banks, 30% from internal accruals, and the remaining 10% from debentures, Muthoot said.
Muthoot Capital Services, part of Muthoot Pappachan Group, will expand its vehicle loan services in the states of Gujarat, Maharashtra, Madhya Pradesh and Rajasthan through the outlets of Muthoot Fincorp, the flagship company of the parent group.
Also, Muthoot Capital Services plans to soon introduce its three-wheeler auto finance product and used car financing services, currently being offered only in Kerala state, across southern region of the country, he said.
Further, the company aims to boost its asset under management (AUM) to Rs 10 billion by the end of the next fiscal year from the targeted Rs 4 billion by March 31, 2012, he added.
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(As per Company's website) Muthoot Capital Services Ltd promoted by the Muthoot Pappachan Group is a Non Banking Finance Company (NBFC) registered with the Reserve Bank of India and listed on th ...
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