Muthoot Microfin Ltd. Company History and Annual Growth Details

The Company was incorporated as ‘Panchratna Stock and Investment Consultancy Services Private Limited’ on April 6, 1992 at Mumbai, Maharashtra, India as a private limited company under the Companies Act, 1956. Thereafter, the Company was converted into a public limited company pursuant to a special resolution passed by the Shareholders on April 30, 1994 and consequently, the name of the Company was changed to ‘Panchratna Stock and Investment Consultancy Services Limited’. A fresh certificate of change of name, consequent upon conversion to a public limited company was issued by the RoC on June 9, 1994. Thereafter, the name of the Company was changed to ‘Panchratna Securities Limited’, in order to align with the object clause and activity being carried on by the Company, pursuant to a resolution passed by the Shareholders on June 11, 1994. A fresh certificate of incorporation, consequent to the change of name was granted to the Company by the RoC on June 22, 1994. The RBI granted a certificate of registration dated March 18, 1998 bearing no. 13.00365 to the Company, under its erstwhile name ‘Panchratna Securities Limited’ for registration as an NBFC under Section 45-IA of the Reserve Bank of India Act, 1934. Subsequently, the name of the Company was changed to ‘Muthoot Microfin Limited’, in order to reflect the group’s identity of the shareholders i.e., the Muthoot Pappachan Group and the operations of the Company, pursuant to a resolution passed by the Shareholders on October 29, 2012. A fresh certificate of incorporation, consequent to the change of name was granted to the Company by the RoC on November 6, 2012. Pursuant to a change in the objects clause of the Company, which was approved by way of special resolution dated January 21, 2013, the Company was granted a certificate of registration of the special resolution confirming alteration of object clause dated February 12, 2013. Subsequently, the RBI granted a revised certificate of registration dated March 18, 1998, reflecting the change of the Company’s name to Muthoot Microfin Limited, with effect from March 25, 2015. The RBI has granted NBFC-MFI status to the Company with effect from March 25, 2015, pursuant to an endorsement on the certificate of registration dated March 18, 1998.

Major events and milestones the Company :

1992
- Incorporated as Panchratna Stock and Investment Consultancy Services Private Limited

1994
- Converted to a public limited company and name changed to Panchratna Securities Limited

1998
- Company obtained a certificate of registration as an NBFC from RBI

2011
- Company was acquired by promoters of “Muthoot Pappachan Group”, namely, Janamma Thomas, Thomas John Muthoot, Thomas George Muthoot, Thomas Muthoot, Preethi John Muthoot, Nina George and Remmy Thomas

2015
- RBI granted NBFC-MFI status with effect from March 25, 2015

2016
- Raised Rs.500,000,000 from Creation

2017
- Crossed 1 million clients
- Raised Rs.150,000,000 in the first round of investment for the year from Creation
- Raised Rs.350,000,034.28 in the second round of investment for the year from Creation

2018
- Raised Rs.300,000,013 in the first round of investment for the year from Creation
- Raised Rs.250,633,050 in the second round of investment for the year from Creation

2019
- CRISIL upgraded the rating to A Stable for bank facilities and debt instruments

2021
- Launched the Mahila Mitra app
- AUM crossed Rs.50,000 million
- Raised Rs.1,877,249,867.54 from GPC

2022
- Raised Rs.1,856,624,910.84 in the first round of investment for the year from GPC
- Raised Rs.818,124,971.22 in the second round of investment for the year from GPC
- CRISIL upgraded the rating to A+ Stable for long-term bank facilities and debt programmes
- Crossed 2 million active customers
- Crossed 1,000 branches

2023
- Reached 10,000 employees
- AUM crossed Rs.100,000 million
- Launched Digital first Suvidha Loan