ஆசிர்வாத் மைக்ரோபைனான்ஸ் லிமிடெட்          Asirvad Microfinance Limited          आशीर्वाद माइक्रोफिनॅन्स लिमिटेड         ആശിർവാദ് മൈക്രോഫിനാൻസ് ലിമിറ്റഡ്          ಅಸೀರ್ವಾಡ್ ಮಿಕ್ರೊಫಿನನ್ಸೆ ಲಿಮಿಟೆಡ್          ਅਸਿਰਵਾਦ ਮਿਕਰੋਫਈਨਂਸੇ ਲਿਮਿਟੇਡ          ଆଶୀର୍ବାଦ ମଇକ୍ରୋଫାଇନାନ୍ସ ଲିଃ          আশির্বাদ মাইক্রো ফাইনান্স লিমিটেড

Asirvad Microfinance Limited, a subsidiary company of Manappuram Finance Limited, has achieved a significant milestone of Rs 5,000 crore in assets under management (AUM).

In a statement released to the media, Mr Raja Vaidyanathan, Managing Director, said that Asirvad has taken the route of multi-state business operations to achieve this milestone. The company is rated AA-/Stable by CRISIL, the highest credit rating in the MFI sector.

Mr V. P. Nandakumar, Chairman of Asirvad, said, “Asirvad has continuously improved its risk management practices by increased automation and digitisation, in line with our objective to offer our services to clients at a competitive rate.”

Asirvad caters to over 21 lakh women members through its 1,037 branches network spread across 314 districts in 23 States. It has a well-diversified portfolio, with AUM of exceeding INR 200 crore  and more than 1 lakh members in 10 states. It has recently upgraded its entire operations through the e-onboarding process of clients at their doorstep. According to Mr Vaidyanathan, after the upgradation, Asirvad aims to reduce the turn-around time to less than five days for its loan offering services. Further, the entire loan documentation process of the company is now digitised.

Asirvad Microfinance was acquired by Manappuram Finance Limited in February 2015. At the time, the company’s AUM was around Rs.300 crore.

The Hindu Business Line
August 27, 2019

 

Asirvad Microfinance Limited, a subsidiary of Manappuram Finance Limited, has achieved a significant milestone with its AUM (assets under management) in the state Tamil Nadu alone crossing Rs.1,000 crore. This was accomplished by disbursing micro-finance loans to over 450,000 women members. Asirvad Microfinance commenced operations in Tamil Nadu in 2008 and completed a decade of operations last year.

In a statement released to the media, Mr. V.P. Nandakumar, Chairman, said that the microfinance company’s foundation was laid in Tamil Nadu and today it has achieved an AUM of Rs.4,444 crore by rapidly expanding its business operations across 20 States and 3 Union Territories. Mr. Raja Vaidyanathan, Managing Director, stated that Asirvad Microfinance achieved another milestone in August 2019 when it opened its 1,000th branch in Bihariganj in the state of Bihar.

Refer Source

Thursday, April 03, 2019

The Hindu Business Line

Manappuram Finance, on Wednesday, announced that it has infused ₹264 crore in its microfinance arm, Asirvad Microfinance, through a rights issue. After this transaction, Manappuram will hold 93.33 per cent stake in the microfinance entity. Promoted by SV Raja Vaidyanathan and his family members in 2007, Asirvad was acquired by Manappuram in February 2015. “The recent capital infusion by the parent company Manappuram will enable Asirvad’s portfolio to grow from the present level of ₹3,800 crore to more than ₹5,500 crore by March 2020,” said Raja Vaidyanathan, MD, Asirvad Microfinance.

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Wednesday, January 09, 2019

The Hindu Businessline

Currently, it serves to 1.6 million women members through its 930 branches across India

Asirvad Microfinance Ltd, the microfinance subsidiary of Kerala-based Manappuram Finance Ltd, on Wednesday said it has securitised its microfinance portfolio amounting to ₹250 crore with a public sector bank.

This securitisation held last month, is the eighth tranche for the current financial year and the total pool securitised with different bank amounts to ₹611 crore, a press release said.

The company has raised funds through term loans from banks and leading non-banking finance companies and also signed securitisation deals with banks, it said.

Refer Source

Thursday, December 13, 2018

The Hindu Business Line

Asirvad Microfinance, a subsidiary of Manappuram Finance, today announced that the company has reached a milestone of ₹3,000 crore in microfinance assets under manangement (AUM).

“Asirvad has been achieving an incremental ₹100 crore AUM for past five months consistently and is poised to reach ₹3,500 crore AUM by the end of the financial year,” said Raja Vaidyanathan, MD, Asirvad Microfinance. With 930 branches spread across 22 States, Asirvad caters to 1.6 million women members.

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