Greater Pacific acquires 14% in Muthoot Microfin
This is the PE’s maiden equity investment in India’s microfinance space, which has bounced back with healthy loan disbursement and loan recovery from the field after seeing severe stress in the June quarter during the peak of the second wave of the pandemic.
London-based private equity fund Greater Pacific Capital (GPC) has picked up around 14 percent stake in Muthoot Microfin for $50 million (Rs 375 crore in local currency), in one of the largest capital infusions in India’s microfinance sector post-Covid, reaffirming the faith of overseas investors in the sector that is subject to periodic ups and downs.