Asirvad Micro Finance IPO Details Today : Asirvad Micro Finance IPO is Open on [.] 2024 and Close on [.] 2024. Asirvad Micro Finance IPO to Raise [.] shares (Approx ₹[.] Cr) via IPO. The Fresh issue of [.] shares (Approx ₹[.] Cr).
We are a non-banking finance company (“NBFC”) -microfinance institution (“MFI”) offering microfinance loans to low-income women, thereby promoting inclusive growth, through servicing and empowering an unbanked population who are socially and economically underprivileged.
We are a digitally enabled MFI with automated loan processing capability from borrower onboarding to disbursement that includes borrower credentials validation through real time integrated application programming interfaces (“APIs”). We have enabled real-time integration with credit bureaus to perform analysis of borrower tradeline reports for quicker decision making in loan processing. Our digitized loan process with cashless disbursements aims to minimize fraud and theft, and ensure reduced turnaround time. In the three preceding Fiscals andthe three months ended June 30, 2023, 100.00% our borrowers were onboarded digitally, and all disbursements to such borrowers were cashless.
We generatereal-time reports to analyse and monitor disbursements, collections and overall productivity of field officers, as well as a workforce management system to track the movement of field development assistants (“FDAs”). We have implemented a key analytics platform that provides real-time MIS reports, enabling us to make better informed decisions and adopt efficient processes. We have ESG-focused operations and are led by qualified and experienced management personnel. Our Board is also duly supported by robust committees, including the Asset Liability Management Committee, Audit Committee, Risk Committee, Nomination and Remuneration Committee, Stakeholders’ Relationship Committee and Corporate Social Responsibility Committee.
In the interest of maintaining robust corporate governance, our management is guided by our Board of Directors comprising 13 directors, which also includes eight independent directors who have diversified experience in the fields of finance, microfinance, credit rating, legal, human resources, public administration, among others. Our Key Managerial Personnel and Senior Management Personnel include management executives who bring in significant hands on operations and business experience, which positions us well to capitalize on future growth opportunities.
Object of the Issue
- to undertake our existing business activities.
- to undertake the activities proposed to be funded from the Net Proceeds.
Our Company Promoter
- Manappuram Finance Limited (MAFIL)
Qualitative Factors
- Largest and most diversified MFI in terms of geographical spread, with lowest concentration among top three states.
- Third largest MFI in terms of AUM, with scalable operations, well positioned to capture industry tailwinds and controlled ticket sizes compared to peers.
- Commitment towards simplified, borrower-centric products and processes which help in better business transparency, growth and borrower relationship.
- Low-cost liability franchise, backed by diverse borrowing mix and lender base; First NBFC-MFI to be rated AA-by a credit rating agency.
- Advanced,integrated and scalable technology-enabled infrastructure.
- Continuous focus on risk management, on ground audit, vigilance checks and crisis-tested collection capabilities, leading to healthy asset quality.
- Experienced Board of Directors and senior management, backed by marquee parentage.
Comparison of accounting ratios with listed industry peers
- Asirvad Micro Finance Limited
- CreditAccess Grameen Ltd
- Fusion Micro Finance Limited
- Satin Creditcare Network Limited
- Spandana Sphoorty Financial Limited
- Bandhan Bank Limited
- Ujjivan Small Finance Bank Limited
- Utkarsh Small Finance Bank Limited
- Suryoday Small Finance Bank Limited
Asirvad Micro Finance Company Contact Details
9th floor, No. 9
Club House Road Anna Salai
Chennai 600 002 Tamil Nadu, India
Contact Person: Aparna Menon
Email: sec@asirvad.in
Telephone: +91 4873050285
Website: www.asirvadmicrofinance.co.in
Asirvad Micro Finance IPO Registrar
Link Intime India PrivateLimited
C-101, 1stFloor, 247 Park
L.B.S. Marg, Vikhroli (West)
Mumbai –400083, Maharashtra, India
Telephone: +91 810 811 4949
E-mail: shivapharmachem.ipo@linkintime.co.in
Investor grievance E-mail:shivapharmachem.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact person: Shanti Gopalkrishnan
