August 6, 2021

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The World Stock Markets Tips & Targets, News, Views & Updates

Manappuram Fin acquires 2.72% shares of Asirvad Micro Finance

Assets under management (AUM) of the microfinance has grown 17 times in five years to touch Rs 5,500 crore by the end of FY2020. In February 2015, when Manappuram had acquired the company, the AUM was around Rs 300 crore.Assets under management (AUM) of the microfinance has grown 17 times in five years to touch Rs 5,500 crore by the end of FY2020. In February 2015, when Manappuram had acquired the company, the AUM was around Rs 300 crore.Assets under management (AUM) of the microfinance has grown 17 times in five years to touch Rs 5,500 crore by the end of FY2020. In February 2015, when Manappuram had acquired the company, the AUM was around Rs 300 crore.

Manappuram Finance has acquired 2.72% of equity shares of Asirvad Micro Finance from S V Raja Vaidyanathan by way of exercising the call option, the company said in a regulatory filing on Thursday. The deal is valued at Rs 39.54 crore.

Kerala-based Manappuram took over the Chennai-based microfinance company in February 2015. After acquiring the shares, the stake of Manappuram has gone up to 97.51%.

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Assets under management (AUM) of the microfinance has grown 17 times in five years to touch Rs 5,500 crore by the end of FY2020. In February 2015, when Manappuram had acquired the company, the AUM was around Rs 300 crore.

In FY2021, the pandemic-induced slowdown impacted growth and there was a marginal erosion in AUM to Rs 5,357 crore as of Q3 of the previous fiscal.

Asirvad Microfinance is considering options of bringing in a financial partner and going public in due course, a top official of Manappuram Finance had earlier said to FE.

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