Muthoot Pappachan Group

Not to be confused with The Muthoot Group.
Muthoot Pappachan Group
Company typeConglomerate
Industry
Founded1887; 137 years ago (1887)
HeadquartersThiruvananthapuram, Kerala, India
Area served
India
Key people
  • Ninan Mathai Muthoot
    (Patron​ founder)
  • Muthoot Pappachan
    (Founder)
  • Thomas John Muthoot
    (Chairman & MD)
  • Thomas George Muthoot
    (Promoter – director)
  • Thomas Muthoot
    (Promoter -​ director)
Number of employees
26,000
Subsidiaries
  • Muthoot Capital Services
  • Muthoot Exim
  • Muthoot FinCorp
  • Muthoot Microfin
  • Muthoot Housing Finance
[1][2][3]
Websitewww.muthoot.com

Muthoot Pappachan Group, also known as Muthoot Blue, is an Indian financial services conglomerate founded in 1887 by Ninan Mathai Muthoot.[4][5][6] Headquartered in Thiruvananthapuram, Kerala, the group has a workforce of more than 26,000 employees across 4,200 branches in India.[7][8] Apart from financial services, the group has business interests in hospitality, automotive dealerships, real estate, healthcare, IT services, precious metals, alternate energy, and security services.[6][9][10][11]

History[edit]

The family business was founded in 1887 by M. N. Mathai (who goes by N. Mathai Muthoot) in Kozhencherry, Kerala.[7][12] Mathai initially traded in timber and food grains, supplying rations to large British-run plantations.

In 1939, the group established banking and finance services to provide immediate financial assistance to customers in rural and non-rural areas through easy secured loans.[13] Post-independence, the demand for credit increased as individuals discovered their household gold as a safe and convenient means to get credit. Mathai then moved into the gold loan business.

In 1979, the business was split among the founder’s three surviving sons. The eldest son, M. George Muthoot, moved out of Kerala and set up Muthoot Finance. The youngest son, M. Thomas Muthoot, also known as Muthoot Pappachan, then incorporated Muthoot Pappachan Group.[7][5] The group is currently under his three sons T. John Muthoot, T. George Muthoot and T. Thomas Muthoot (known as just Thomas Muthoot).

References[edit]

  1. ^ "Muthoot FinCorp". muthootfincorp.com.
  2. ^ "Muthoot Microfin aims to raise Rs 1,000 crore from IPO". The New Indian Express. Retrieved 14 April 2022.
  3. ^ Malik, Yuvraj (9 January 2018). "Muthoot Pappachan plans strategic investments in fintech start-ups". mint. Retrieved 11 February 2023.
  4. ^ "Muthoot Fincorp rolls out 5th tranche of Rs 900-crore capital market plan". The Financial Express. 9 January 2020. Retrieved 12 February 2020.
  5. ^ a b "Muthoot Pappachan Group: Riding out the storm". www.fortuneindia.com. Retrieved 12 February 2020.
  6. ^ a b Sanjai, Vishwanath Nair,P R. (1 May 2015). "Muthoot Pappachan Group goes back to roots with planned microfinance unit". Livemint. Retrieved 12 February 2020.{{cite web}}: CS1 maint: multiple names: authors list (link)
  7. ^ a b c "The Other Muthoot: True Blue Heirs". Forbes India. Retrieved 12 February 2020.
  8. ^ Sangani, Priyanka (10 February 2020). "Muthoot Pappachan Group ties up with UST Global for digital transformation initiative". The Economic Times. Retrieved 12 February 2020.
  9. ^ "Muthoot Pappachan Group aims to double wind energy generation capacity by end 2012". Business Standard India. 15 November 2010. Retrieved 11 February 2023.
  10. ^ Lele, Abhijit (11 July 2015). "Muthoot Fincorp promoters to expand real estate business". Business Standard India. Retrieved 11 February 2023.
  11. ^ "Muthoot Pappachan Group to widen security initiative". The Hindu Businessline. 13 January 2016. Retrieved 11 February 2023.
  12. ^ Muthoot, MG George (24 November 2014). "40 Years Ago... and now: Pushing for growth". Business Standard India. Retrieved 12 February 2020.
  13. ^ Rai, Saritha (26 October 2011). "Indian Billionaire George Muthoot's Pot of Gold". Forbes. Retrieved 12 February 2020.
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