Sumitomo Mitsui Financial group infuses ₹3,000 cr into SMFG India credit through rights issue
The Statesman Siliguri|December 27, 2024
Sumitomo Mitsui Financial Group, Inc. (SMFG) has reinforced its commitment to the Indian market with another Rs 3,000 crore equity infusion in SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) (SMICC) via a rights issue.
STATESMAN NEWS SERVICE

This investment also includes Rs 300 crore directed towards its wholly-owned subsidiary, SMFG India Home Finance Co. Ltd. (Formerly Fullerton India Home Finance Co. Ltd.) (SMFG Grihashakti).

As of September 30, 2024, SMICC's Asset Under Management (AUM) stood at Rs 49,800 crore, showcasing a year-on-year growth of 25.1 per cent. SMFG in April 2024 had infused Rs 1,300 crore in SMICC via rights issue and with this latest capital infusion of Rs 3,000 crore, SMICC has received the highest-ever fund infusion of Rs 4,300 crore for any financial year since inception, top company officials said on Thursday.

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