Belstar Microfinance raises Rs 275 crore in equity

Kolkata: Belstar Microfinance, a subsidiary of Muthoot Finance, has raised Rs 275 crore in equity from a new investor called Affirma Capital along with existing investors Muthoot Finance and Danish asset management company Maj Invest, the company announced on Friday.

This is the second private equity investment in Belstar after Majm which had first invested in the lender in 2018.

"Keeping in mind the new regulatory landscape, the funding received will help Belstar Microfinance strengthen its balance sheet and also support in growing the loan book,” George Alexander Muthoot, managing director at Muthoot Finance said.


Belstar had, however, signed a definitive agreement with these investors in August 2021 to raise Rs 350 crore from them.