Muthoot Capital stocks gains on electric 2-wheeler financing

Published : 13 March 2024

On March 13th, Muthoot Capital Services shares jumped by 6% in intra-day trade, reaching ₹307 per share, on the announcement of a substantial agreement. 

Muthoot Capital stocks gains on electric 2-wheeler financing

The company disclosed to investors that it has expanded electric two-wheeler financing across India in partnership with evfin, Greaves Finance Limited's 100% e-focused lending platform.

Muthoot Finance partnered with Greaves Finance Ltd

First Electric 2-wheeler partnership

For the Muthoot Pappachan Group, this is the first electric two-wheeler finance arrangement.

With a total contract value of up to ₹150 crore (USD 18 million), the partnership demonstrates the scope and ambition of the project to promote the widespread use of electric cars in India. 

Collaboration to promote electric cars in India

This partnership aims to facilitate convenient, affordable, and customized financing options for customers looking to purchase electric 2-wheelers by utilizing Muthoot Capital's established presence in the financial sector and evfin's expertise in customised automotive financing based on asset lifecycle management. 

Affordable and customised vehicle financing

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