BlueOrchard PE Fund invests Rs 50 cr in Asmitha Microfin
- Wednesday, September 2, 2009, 19:25
- Investments, Latest News
- 2 comments
Microfinance Focus, Sept. 2, 2009: Hyderabad-based Asmitha Microfin Limited has closed its second round of equity infusion with BlueOrchard Private Equity Fund pumping in Rs 50 crore.
Asmitha Microfin Limited, a Hyderabad-based microfinance institution and one of the top five microfinance institutions in India in terms of portfolio size, presently serves over 1.16 million clients with a loan portfolio of about Rs 745 crore ($165 million) as of July 31, 2009.
Asmitha has a network of 485 branches across 127 districts in 13 states in India.
“This additional capital infusion of Rs. 50 crore would enable Asmitha in expanding its operations deeper into the Indian rural markets and offering its services to many more of the under-served poor in these regions. Further, this investment will enable the institution in accomplishing the growth targets set forth by the company for the next couple of years.
After participating in the first round of equity raising, BlueOrchard’s investment in the second round as well, endorses Asmitha’s strong commitment to quality, efficient systems and striking the optimal balance between impressive social impact and well-managed, sustainable growth,” says Dr. Vidya Sravanthi, Chairperson and Managing Director,
Asmitha Microfin Limited.
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© 2009, Microfinance News. All rights reserved. 2008-09
2 Comments on “BlueOrchard PE Fund invests Rs 50 cr in Asmitha Microfin”
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It is interesting to note that MFIs continue to grow from strength to strength in India. However, I still wonder whether the Indian MF sector really needs foreign capital. I have a sentiment that local capital is abundant in India today. I notice from your “related posts” that a number of MFIs have indeed managed to get local capital.
Our organization, NHRDI, in Orissa has already promoted 2,473 SHGs in 5 Districts namely Puri, Khurda, Cuttack, Ganjam and Nayagarh involving 32,000 members out of which NHRDI has linked 240 to nationalized Bank providing Microcredit facilities. it has also provided microcredit to 98 SHGs from its own resources with full satisfaction of the SHGs members who regularly are involved in thrift and credit process. We aim to provide individual water connection and sanitary facility provision and create awareness about the hygiene in slums and rural areas, especially among the rural women. In this context, we wish to explore funding possiblities. Please help us. Thanks. Bhagirathi Pradhan
Chairman-cum-Director
National Human Rural Development Institute (NHRDI)
E-bhagirathi@nhrdi.org