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Manappuram Finance looks to take microfinance arm Asirvad public

30 Mar 2021 Evaluate

Manappuram Finance is considering hiving off and taking its microfinance arm Asirvad Microfinance public within a year. With a loan portfolio of over Rs 5,360 crore and close to 25 lakh customers across 23 states, the Chennai-headquartered Asirvad is the fourth largest microfinance lender in the country in terms of the loan book.

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.

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