Manappuram Finance has received an approval for equity infusion of up to Rs 50 crore in its subsidiary Asirvad Microfinance. The board of directors at its meeting held on November 7, 2017 has approved for the same. The capital infusion of the company will facilitate Asirvad’s business growth.
Asirvad is an NBFC incorporated on 29 August 2007 with registered office in Chennai. Asirvad operates as a micro finance institution (NBFC-MFI), is a subsidiary of Manappuram Finance.
Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.
| Company Name | CMP |
|---|---|
| Bajaj Finance | 918.55 |
| Shriram Finance | 1045.05 |
| Aditya Birla Capital | 341.30 |
| Chola Invest & Fin. | 1568.80 |
| Tata Capital | 335.25 |
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