Shares of Muthoot Capital Services Limited (MCSL), a major two wheeler finance company in South India, have been listed on National Stock Exchange (NSE).
The shares of the MCSL, which were earlier traded on Bombay Stock Exchange (BSE), started trading on NSE on 24 August.
Muthoot Capital Services Limited, a Non-Banking Financial Services Company (NBFC), is the first listed entity of Muthoot Pappachan Group (MPG).
It is a ''Category A'' Company authorised to 'take deposits' under the NBFC licensed by RBI. MCSL was incorporated in 1994 and was listed on the BSE in 1995 through an Initial Public Offer (IPO) followed by a successful Rights Issue in 2011.
"MCSL has been able to maintain its growth momentum since inception. Our diversified business model and trust engulfed by our investors on MCSL has largely contributed to the overall success for the company. This has resulted in offering our investors with healthy dividends. Listing the shares on the national stock exchange will help us to further add value in our offerings to all the stakeholders," said Thomas George Muthoot Managing Director Muthoot Capital Services Limited.
The company has presence in eight states viz Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telengana, Gujarat, Maharashtra and Goa. The company is planning an aggressive foray into the North Indian States.
The company's expansion in the north will be based out of Delhi. The company plans to tap the huge potential available for two-wheeler financing products starting with Delhi, Rajasthan and Punjab.
The company has posted a net profit of 3.75 crore for the June quarter and its total income stood at Rs. 50.65 crores, up12.06% compared to the same quarter a year ago.