Asirvad Microfinance securitizes Microfinance Portfolio amounting to Rs 250 crore with a PSU Bank
Deepthi | Myequity news | Date : 09-01-2019 17:35:00 IST
Asirvad Microfinance Limited, the microfinance subsidiary of Manappuram Finance Limited, has securitized microfinance portfolio amounting to Rs 250 crore with a PSU Bank in December 2018. This is the 8th tranche of securitization for the year and the total pool securitized with different banks during the current fiscal amounts to Rs 611 crore.
About Asirvad Microfinance Limited:
Asirvad caters to 1.6 million women members through 930 branch network across 22 States pan India. As an NBFC-MFI, Asirvad offers microfinance loan for various income generating activities. The company has raised funds through term loans from Banks and leading NBFCs, listed NCDs and completed many securitization deals with Banks. Asirvad has relationships with 63 Banks/ FIs with outstanding liabilities of over Rs 2,500 crores.
Asirvad was promoted by Shri. S.V. Raja Vaidyanathan and his family members in the year 2007. During February 2015 Manappuram acquired the majority of the stakes and Asirvad is now a subsidiary company of the Gold Loan Company Manappuram Finance Ltd. It provides individual and group loans through its network of branches across fourteen states of India. We strive to find mechanisms to deliver capital in more targeted and efficient ways so as to drive greater economic value in the communities we serve. Asirvad offers loans as well as other services to women from poor and low-income household.