Muthoot Capital Secured ₹100 Crore Impact Funding for Electric Vehicle Portfolio

Muthoot Capital Services Limited (MCSL), a dynamic Non-Banking Finance Company (NBFC) and a cornerstone of the 137-year-old Muthoot Pappachan Group, is accelerating its commitment to sustainable mobility. The company has secured a significant ₹100 crore debt funding partnership with a UK-based Development Financial Institution (DFI), facilitated by Axis Bank. This investment will fuel MCSL’s electric vehicle (EV) portfolio expansion.

As one of India’s fastest-growing NBFCs, MCSL is leading the charge in driving EV adoption, particularly among the lower middle class. This strategic collaboration marks a substantial milestone in the company’s sustainability journey and underscores its dedication to providing eco-friendly transportation solutions.

While currently participating in the EV market through co-lending arrangements, MCSL has ambitious plans to grow its own EV book by approximately INR 200 crore during the current fiscal year. This strategic move positions the company as a major player in the burgeoning Indian EV market.

Mr Thomas George Muthoot, Managing Director of Muthoot Capital and Director of Muthoot Pappachan Group, said, “These are exciting times, and I am glad our efforts in driving sustainability initiatives in the country are paving the way for fruitful partnerships. Electric two-wheelers are gaining momentum in the country, and organisations and people alike are embracing the importance of sustainability; we will continue to focus on providing sustainable financial solutions to our customer segment in the lower middle-income segment and am sure this partnership will only pave the way for further innovative solutions in the electric vehicle segment from the Company.

Mr Mathews Markose, CEO of Muthoot Capital, said, “This deal will help us bring unequivocal focus on the EV segment in semi-urban, rural markets, making it more affordable and convenient for the common man to own an electric vehicle.”

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