Muthoottu Mini Announces Strategic Expansion with New Administrative Office in Mumbai’s BKC

Mumbai, May 10, 2024: Muthoottu Mini Financiers Ltd, one of the country’s leading NBFCs, has today announced its strategic expansion with a new office space in Mumbai’s financial hub, Bandra-Kurla Complex (BKC). To have a presence in Mumbai marks a significant milestone for the Kochi-headquartered company, as it makes bold strides to inculcate broader accessibility and enhanced services for its customers.

As part of the company’s near-term and long-term growth strategy, the inauguration of the BKC office represents a first step towards Muthoottu Mini’s long-term goal of a potential Initial Public Offering (IPO) down the line. The office space will have employees from the company’s administrative functions primarily.

Establishing a presence in Mumbai, the financial capital of India, underscores the company’s commitment to strengthening its relationships within the banking and finance ecosystem of the country. With this strategic move, Muthoottu Mini aims to foster closer ties with the key stakeholders, further solidifying the company’s position as a trusted partner in the financial landscape. The office will also serve as a stepping stone for the company’s growth in the western part of the country.

Commenting on the expansion, Mr Mathew Muthoottu, Managing Director, Muthoottu Mini Financiers Ltd, said, “The opening of Muthoottu Mini’s new office in BKC is a significant milestone for all of us in the company as we continue to work towards enhancing our presence across India. Mumbai’s dynamic and vibrant financial hub provides a perfect environment for our company to engage with a diverse spectrum of stakeholders, while helping us drive innovation and delivering value-added services to customers.”

The gold loan NBFC, which has a relentless focus on customer-centricity and innovation, currently has 900+ branches across the country and is on the road to achieving the milestone of 1,000+ branches, enabling greater accessibility to its financial services to the common man.