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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.
“Manappuram Finance is infusing ₹150 crore into the company to aid further expansion of portfolio,” Vaidyanathan added.
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