CRISIL

Non-banking finance company Manappuram Finance Ltd said it has filed an addendum to the ₹1,500 crore initial public offer (IPO) of Asirvad Micro Finance with the Securities and Exchange Board of India (SEBI).The maiden public issue is completely a fresh issue of equity shares with no offer-for-sale (OFS) component. The company also planned to raise ₹300 crore in a pre-IPO round. If such placement is completed, the fresh issue size will be reduced. Going by the draft papers, proceeds from the issue will be used to augment the capital base of the company to meet future business requirements.

Manappuram Finance files addendum to ₹1,500 crore Asirvad Micro Finance IPO

Asirvad Micro Finance Limited ("AMFL"), a subsidiary of Manappuram Finance Limited ("Company"), has filed a draft red herring prospectus with the Securities and Exchange Board of India, BSE Limited and National Stock Exchange of India Limited in connection with its proposed initial public offer ("IPO") of equity shares, subject to receipt of requisite approvals, market conditions and other considerations. AMFL is proposing to undertake an IPO of its equity shares of face value of Rs. 10 each ("Equity Shares"), comprising a fresh issue of Equity Shares aggregating up to Rs. 15,000 million.

Asirvad Micro Finance Ltd files DRHP with SEBI, BSE and NSE for IPO

The top three states, TN, Bihar and West Bengal.

During Q1FY22, the company reported a PAT of Rs.8 crores on a total income of Rs.303 crores. The decline in PAT during Q1FY22 is due to provisions/write-offs of Rs.90 crores during the period.

The microfinance sector continues to be impacted by the inherent risk involved, viz., socio-political intervention risk and risks emanating from unsecured lending and marginal profile of borrowers who are vulnerable to economic downturns besides operational risks related to cash-based transaction.

The issuer has made timely interest payments.

Mr. V P Nandakumar, Chairman

Mr. B. N. Raveendra Babu, MD

Manappuram group. AMFL, being a subsidiary of MFL, derives significant benefits in the form of managerial, financial and operational support.

Assets under management witnessed growth of 8% from Rs.5,503 crore as on March 31, 2020 to Rs.5,985 crore as on March 31, 2021.

AMFL has adequate structure to monitor the operations at different levels. It has defined credit appraisal, internal control, collection and monitoring systems. The Credit Bureau Checks are done at the field level to assess the eligibility of the borrowers for loan approval.

Total borrowings are term loans, NCD, refinance, Sub-Debts, ECB/Foreign currency debt and PTC

9.30%Asirvad Micro Finance Limited 20 Jan 2026

ISIN:

INE516Q07465

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Manappuram Finance files addendum to ₹1,500 crore Asirvad Micro Finance IPO

Asirvad Micro Finance Ltd files DRHP with SEBI, BSE and NSE for IPO

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