Light Microfinance has raised ₹196 crore in a Series B funding round, the company said in a statement on Thursday. The funding was led by British International Investment (BII), UK’s Development Finance Institution...
Northern Arc to acquire business of S.M.I.L.E. Microfinance to grow retail lending
Non-banking finance company Northern Arc on Thursday announced its plan to acquire the microfinance business of S.M.I.L.E. Microfinance through a slump sale. The transaction will involve the takeover of the microfinance...
Asirvad Microfinance plans to rope in partner; may go public in due course
Asirvad Microfinance is considering options of bringing in a financial partner and going public in due course, a top official of the company said. However, it is not in a hurry given the current environment and is...
Adar Poonawalla-backed Svasti Microfinance to raise Rs 150 crore
Svasti Microfinance, a start-up backed by Serum Institute of India Chief Executive Adar Poonawalla, is in talks to raise Rs 150 crore in the next financial year, said a company executive. This is likely to conclude by...
Axis Bank evaluating the acquisition route to scale up microfinance business
Private sector Axis Bank is evaluating the acquisition route to scale up microfinance books while its rivals such as Kotak Mahindra Bank and IndusInd Bank have already taken strides in this segment. Axis Bank managing...
More suitors join race to acquire Madura Microfinance
Bids to buy Chennai-based micro lender Madura Microfinance is intensifying with a US private equity fund matching first suitor Federal Bank’s offer, and the close race underlined the potential of the industry, two...
Fusion Microfinance raises Rs 80 crore from existing investors
Fusion Microfinance has raised Rs 80 crore of equity from existing shareholders such as Creation Investments, Oikocredit and GAWA Capital, the company announced on Thursday. The equity raising took place over the last...
Fusion Microfinance to raise Rs 400 crore by March, hire 1,000 more employees
Fusion Microfinance plans to raise Rs 400 crore by end-March to finance its expansion plans, a senior company official said. The company has already raised Rs 700 crore in the current fiscal so far. Embarking on an...
Microfinance firm Village Financial looks to sell 10% stake to raise capital
Village Financial Services Ltd, one of the oldest microfinance institutions in India, is looking to sell a 10% stake to raise “growth capital” as lenders like it face pressure from those that have turned into banks to...
Centrum Capital to acquire FirstRand Bank’s microfinance business in India
Centrum Microcredit Pvt. Ltd, a subsidiary of Centrum Capital Ltd, on Wednesday said it has received a licence from the Reserve Bank of India (RBI) to start microfinance business. As part of starting up, Centrum Capital...
InCred Finance in talks with microfinance companies for buyout or controlling stake
Anshu Jain-backed non-banking finance company InCred Finance is in talks with a clutch of microfinance companies for either a total buyout or controlling stake, two people familiar with the matter told ET. The company...
Kedaara Capital eyeing stake in microfinance firm Spandana Sphoorty
Seven years after being hit by the microfinance crisis that originated in Andhra Pradesh, control of microfinance lender Spandana Sphoorty Financial Ltd is set to change hands. The microfinance lender is in talks with...