Muthoot Finance has sought shareholder approval to foray into insurance distribution in both the life and general insurance sectors. In a postal ballot notice, Muthoot Finance sought shareholders’ nod to amend the company’s Memorandum of Association to align with the Companies Act, 2013.
The company’s board of directors approved the proposal on April 10, 2026. The proposal is now subject to approval from the shareholders.
The company’s is seeking shareholders approval to “carry on and undertake the business and activities of a corporate agent, or insurance intermediary by the provisions of the rules and regulations issued by the Insurance Regulatory and Development Authority of India for all classes of insurance business/products in India which includes, Life, General, Health Insurance Business, and all other forms of insurance products/services”, Muthoot Finance said in a regulatory filing.
Why the new venture
If the proposed insurance market foray is approved by Muthoot Finance’s shareholders, it will be one of the company’s biggest market moves, with operations spanning gold loans, personal lending, and mutual funds.
Muthoot Finance said in an exchange filing that the Board believes that this expansion aligns seamlessly with the company’s core financial services offering, creating significant cross-selling opportunities and enhancing the value proposition for its customers.
“This diversification is expected to unlock new revenue streams and contribute positively to the company’s overall financial stability and market standing in the coming years and is in line with the company’s overall business strategy of offering diversified products to its customers,” the company said.
Muthoot Finance current businesses portfolio
Muthoot Finance is one of the largest Non-Banking Finance Companies (NBFCs), with operations throughout the country. At the end of the December quarter, its consolidated loan assets under management were at Rs 1,64,720 crores, growing 48 percent YoY.
The company’s consolidated profit for the first nine months of FY26 stood at Rs 7,209 crores as against Rs 3,908 crores last year.
Muthoot Finance share price
Muthoot Finance’s stock closed at Rs 3,598.30 on Wednesday, about 1 percent higher in the intra-day trade. In the last 5 trading days, its share price has gained about 3.2 percent.