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Manappuram Finance’s arm securitises microfinance portfolio

Manappuram Finance’s subsidiary– Asirvad Microfinance has securitised its microfinance portfolio amounting to Rs 250 crore with a public sector bank.

This securitisation is the eighth tranche for the current financial year and the total pool securitised with different bank amounts to Rs 611 crore. The company has raised funds through term loans from banks and leading non-banking finance companies and also signed securitisation deals with banks.

Manappuram Finance is a non-deposit taking NBFC and having a strong presence in South India in states of Kerala, Tamil Nadu, Karnataka and Andhra Pradesh.

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