Muthoot Finance has completed the acquisition of Muthoot Homefin (India) (MHIL) by way of purchase of 88,00,000 equity shares of face value Rs 10 each at a price of Rs 44 per share aggregating to Rs 387.2 million from existing shareholders and has made a further investment by subscribing to 2,27,27,272 equity shares of nominal value of Rs 10 each at Rs 44 each, as approved by the Board at its meeting held on August 08, 2017.

Post investment, the company is holding 100% paid up share capital of MHIL which is Rs 97,72,72,720 consisting of 9,77,27,272 equity shares of Rs 10 each, and MHIL has become the wholly owned subsidiary of the company.

Shares of the company gained Rs 2.15, or 0.42%, to trade at Rs 513.50. The total volume of shares traded was 13,674 at the BSE (10.06 a.m., Tuesday).