MUMBAI: Leading NBFC Muthoot Finance Ltd (MFIN) announced that it has raised Rs 43 crore in the second round of institutional funding from Kotak India Private Equity Fund (KIPEF) for a minority stake in the company.

Muthoot Finance is the largest gold loan company in India and the company has a gross loan book exceeding Rs 10,000 crore. This capital infusion will further strengthen the capital base of the company. During the first round of institutional funding, the company raised Rs 157 crore from two leading PE players namely Baring Private Equity Partners India and Matrix Partners India.