Muthoot Capital Services Partners with UK Development Financial Institution

08 Aug, 2024

Muthoot Capital Services Partners with UK Development Financial Institution

Muthoot Capital Services (MCSL) has partnered with a UK-based Development Financial Institution to raise long-term debt funds aimed at promoting its electric vehicle portfolio. Facilitated by Axis Bank, this collaboration involves a significant deal size of Rs 100 crore. This partnership underscores Muthoot Capital's dedication to providing sustainable mobility solutions and driving the widespread adoption of electric vehicles in India, particularly among the lower-middle-income segment.

This is one of the largest partnership deals secured by Muthoot Capital for its sustainability and environmentally focused initiatives. Currently, Muthoot Capital is involved in the electric vehicle sector through co-lending arrangements. However, the company plans to expand its own EV book by approximately Rs 200 crore during FY25.