Muthoot raises $9.2 million from Kotak as part of second funding round
One month after Indian non-bank financial company Muthoot raised INR157 crore ($33.6 million) from Baring Private Equity Partners India and Matrix Partners India as part of its first institutional funding round, the company has now garnered an additional INR43 crore ($9.2 million)from Kotak India Private Equity Fund (KIPEF) for a minority stake in the company, according to reports.
The investment comes as part of Muthoot's second round of institutional funding and follows the July transaction that saw Muthoot dilute a 4% stake to Baring and Matrix Partners. According to reports,...
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