In the last fiscal, Equitas disbursed Rs.1,505 cr while the gross loan portfolio was Rs.1,503 cr
Two foreign institutional investors will pick up undisclosed equity stake in Chennai-based Equitas Holdings, a microfinance institution (MFI) operating in seven states.
According to sources, for the first time Lok Capital LLC and Creation Investments Capital Management LLC will be investing a total of Rs.80 crore. The Foreign Investment Promotion Board gave its nod for this proposal on Tuesday. With this, the total equity in Equitas will increase to Rs.480 crore.
Lok Capital is a microfinance investment vehicle. It will be investing Rs.47 crore through Lok Capital II. Creation Investments that evaluates and pursues investments in MFIs to achieve financial and social returns invest will Rs.33 crore
Equitas is one of the top 10 MFIs in the country. Currently, International Finance Corporation, CDC London, CLSA Capital Hong Kong and private equity funds hold 89.64 per cent of equity.
In the last fiscal, Equitas disbursed Rs.1,505 crore while the gross loan portfolio was Rs.1,503 crore. The company opened 37 more branches that led to an increase in its client base by nearly five lakh.