Gold Silver Reports — Muthoot’s Kabali Coins a Big Hit — Muthoot Fincorp, the flagship company of Muthoot Pappachan group, rode megastar Rajinikanth’s Kabali frenzy to sell 165 kg of silver coins embossed with the image of the wildly popular Tamil film star. The NBFC, which is the associate sponsor of Kabali and the exclusive on-ground merchandise partner, launched silver coins of 5 gm, 10 gm, 20 gm and 100 gm to celebrate the mega release of the movie.
Talking to ET, Thomas George Muthoot, director, Muthoot Fincorp said “Rajinikanth has never endorsed any brand and that is one of the reasons why we decided to get associated with Kabali. Moreover, he is a crowd puller and has a huge following among masses.We decided to launch silver coins as they are more affordable by the masses.“
The coins are available in the branches of Muthoot Fincorp mostly located in TN, Kerala, Andhra Pradesh, Telangana and Kerala. “We have also launched the coins in Delhi,“ said Keyur Shah, CEO-Precious Metals Division, Muthoot Pappachan Group.
Shah said that till date the NBFC has been able to sell 165 kg of silver coins. “In the first week of the release we had sold 100 kg of silver coins. In the next two weeks we sold another 65 kg. Rajinikanth fans are still buying the coins and we think that the total sales volume will climb to 200 kg,“ said Shah.
Price of silver has surged 30% since the beginning of this year.“It is a good long term investment too,“ said Shah.
Having tasted good response in the market from this Kabali-Rajinikanth association, Muthoot Pappachan group may also consider similar initiatives for other such mega films in Bollywood as well as in good regional films. — Neal Bhai Reports