IPO Details
Bidding Dates
To be announced
Minimum Investment
To be announced
Price Range
To be announced
Maximum Investment
To be announced
Retail Discount
To be announced
Issue Size
Equity shares aggregating up to ₹15,000 million
Investor category and sub category
Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investor |About Asirvad Micro Finance Ltd
Asirvad Micro Finance Ltd is a microfinance institution (MFI) offering small retail loans to low-income women. Their objective is to promote inclusive growth via servicing and empowering an unbanked, underprivileged section of the population. They commenced their operations in 2008 with two branches in Tamil Nadu and they are today the largest MFI in India in terms of geographic coverage as of March 31, 2023, with a presence in 450 districts.
As of June 30, 2023, microfinance loans comprised 91.81% of their total AUM and loans against gold comprised 7.79%. They also offer MSME loans to small business owners and self-employed individuals. They are a digitally enabled MFI with automated loan processing capability from borrower onboarding to disbursement that includes borrower credentials validation.
The microfinance industry in India saw its portfolio outstanding clock a 22% CAGR between March 2016 and March 2023 to reach ₹3,49,200 crore. Incidents like demonetisation, farm loan waivers, liquidity issues and Covid may have negatively impacted the industry in the past. But overall, the industry has grown, often with the help of government schemes such as credit guarantee schemes, refinance support, etc.
Asirvad Micro Finance Ltd IPO Details
Asirvad Micro Finance Ltd IPO Dates
The dates for bidding for the Asirvad Micro Finance IPO have not been announced yet.
Asirvad Micro Finance Ltd IPO Price Band
Asirvad Micro Finance is a book-built IPO with a price range that has not been announced yet.
Asirvad Micro Finance Ltd IPO Lot Size
The Asirvad Micro Finance Ltd IPO lot size has not been announced yet.
Asirvad Micro Finance Ltd IPO Objectives
The net proceeds from the fresh issue towards augmenting the capital base of the company to meet future business requirements.
Peer Details
The company’s peers include:
- CreditAccess Grameen Ltd.
- Fusion Micro Finance Ltd.
- Satin Creditcare Network Ltd.
- Spandana Sphoorty Financial Ltd.
- Bandhan Bank Ltd.
- Ujjivan Small Finance Bank Ltd.
- Utkarsh Small Finance Bank Ltd.
- Suryoday Small Finance Bank Ltd.
How to Check the Allotment Status of the Asirvad Micro Finance Ltd IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Asirvad Micro Finance Ltd.
Registered office: 9th Floor, No. 9, Club House Road, Anna Salai, Chennai 600002, Tamil Nadu, India
Phone: +91 48 73050285
E-mail: sec@asirvad.in
IPO Financials
| Particulars | Year Ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|
| Total Income | 17,592.76 | 14,118.90 | 10,771.85 |
| Profit (Loss) for the Year | 2,234.28 | 139.30 | 161.01 |
| Debt to Equity Ratio | 5.10 | 4.45 | 3.37 |
| Return on Total Assets | 2.63% | 0.22% | 0.27% |
| Gross NPA Ratio | 2.81% | 1.67% | 1.77% |
Know before investing
Strengths
4-
The top three states, i.e., Tamil Nadu, Bihar and West Bengal, contribute 38.50% of the total microfinance loan AUM. Among their microfinance institution peer group, they have the lowest AUM concentration in their top three states as of March 31, 2023. This means their business is more geographically diversified and has less concentration risk.
-
They are the third largest MFI in terms of AUM, with scalable operations that are well-positioned to expand into loans of various ticket sizes.
-
They are the first NBFC-MFI to be rated AA- by a credit rating agency.
-
In FY 2023, they had the second lowest cost of borrowings among the MFI Peer Group in India.
Risks
4-
Their primary group of borrowers generally have limited sources of income and credit histories, tax returns, bank or credit card statements, etc., through which they can accurately assess their creditworthiness.
-
Their loans are usually unsecured, and thus, legal proceedings against the defaulters are Asirvad’s only course of action in case of default.
-
Their business is vulnerable to interest rate risk. In other words, volatility in interest rates for both lending and treasury operations could have an adverse effect on their net interest income and cash flows.
-
Their ability to raise debt funding and equity capital on acceptable terms and in a timely manner is important for sustaining their operations. These things, in turn, depend on various factors, such as profitability, risk management policies, credit ratings, brand equity, etc.
Login to Angel One App / Website & click on IPO
Select desired IPO & tap on "Apply"
Enter UPI ID, set quantity/price & submit
Accept mandate on the UPI app to complete the process
Login to Angel One App / Website
Choose IPO section on Home Page
Click IPO Orders
Chose the IPO application you want to view the status for
Asirvad Micro Finance Ltd IPO FAQs
Asirvad Micro Finance IPO is a book built IPO. The dates for the IPO have not been announced yet.
The allotment date has not been announced yet.
The IPO subscription window has not been announced yet.
The lot size for the IPO has not been announced yet.
Asirvad Micro Finance Ltd IPO will be listed on the NSE and the BSE. The dates for the IPO have not been announced yet.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The date of listing has not been announced yet.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
