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Limited and Maj Invest Financial Inclusion Fund, a Denmark-based fund, have invested around $28 million in Belstar
Investment and Finance Private Limited.
The money was infused by the existing strategic shareholder, Muthoot Finance
Limited and a new investor Maj Invest Financial Inclusion Fund.
While Maj has picked up an 11 per cent stake in the company, Muthoot, which had around 71 per cent before this round of infusion, now has 74 per cent.
Maj Invest Financial Inclusion Fund is a Denmark-based fund. Muthoot Finance
Limited is a listed non-banking finance company (NBFC) based out of Kochi, Kerala, with a special focus on gold loans.