SIDBI to Invest in MFIs in Eastern Region
SIDBI plans to invest in fresh equities of 5-6 micro-finance institutions in the under-served Eastern regions of India.
The bank is considering picking up stake in Asmitha microfinance, Village Financial Services and Sahara Uttarayan. It mayb also convert its loans to equity in atleast 6 MFIs. The investment size is unknown.
SIDBI offers transformation loans to MFIs and NGOs to help them upgrade into NBFCs.
In December 2009, it raised its stake in Bandhan from 1.31% to 12.23% for $10.7 mn. It also lent a loan of Rs 250cr Bandhan in September 2009 to help the MFI grow its lending portfolio and cover 5lakh additional borrowers.
SIDBI has identified around 50 MFIs in the region for offering loans. It has doubled its annual disbursement target for 2009-10 to Rs540cr from the actual Rs260cr in 2008-09. If the bank achieves its target, SIDBIs exposure to MFIs in the region would touch Rs700cr by March 2010.
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KVEZAR VIEW
DEAL TRACKER FOR
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 20/01/10 | Asmitha- SIDBI | Venture Capital | SIDBI Limited | - |
| 05/01/10 | Asmitha- Rabo India | Venture Capital | Rabo India Finance | 35.00 |
| 02/09/09 | Asmitha Microfin - BlueOrchard Private Equity Round 2 | Venture capital | BlueOrchard Private Equity Fund | 10.22 |
| 13/10/08 | Asmitha Microfin - BlueOrchard Private Equity Round 1 | Venture capital | BlueOrchard Private Equity Fund | 5.30 |
Recent Transactions In The Sector
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 06/02/12 | Venture Capital | Unitus Seed Fund | Milaap Social Ventures | - | Announced |
| 01/02/12 | Private Equity | Sequoia Capital India | Ujjivan Financial Services Private Limited | 25.75 | Completed |
| 23/01/12 | M&A | Singhivi Investment and Finance Private Limited | Microfinance Business | - | Announced |
| 12/10/11 | Private Equity | Helion Venture Partners | Spandana Sphoorty Financial Limited | 1.37 | Completed |
Profiles
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Asmitha Microfin Limited | Vidya Sravanthi | 1-2-58, Plot No.1-3, N Block, Kakatiya Nagar, Habsiguda |
Saija Finance Private Limited Asirvad Microfinance Private Limited Trident Microfin Private Limited ( Annapurna Financial Services Private Limited) |
www.asmithamicrofin.com |
| SIDBI Limited | ||||
| 1 | November 16, 2010 09:34 AM |
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