Asmitha Microfin Raises Rs 50 Cr From BlueOrchard

Quotes

1. “ After participating in the first round of equity raising, BlueOrchard's investment in the second round as well, endorses Asmitha's strong commitment to quality, efficient systems and striking the optimal balance between impressive social impact and well-managed, sustainable growth. ”

Entities Mentioned

• SKS Microfinance
• Sandstone Capital
• Madhav A. Chanchani
• BlueOrchard
• Spandana Microfinance

1. Here is another Hyderabad-based microfinance institution that has raised private equity funding. Asmitha Microfin Limited has raised Rs 50 crore from BlueOrchard Private Equity Fund in its second round of funding. The firm, which claims to be one of the top five microfinance institutions in India in terms of portfolio size, has over 1.16 million clients with a loan portfolio of about Rs 745 crore ($165 million) as of July 31, 2009. Asmitha has a network of 485 branches across 127 districts in 13 states of the country. The funds will be used by Asmitha to expand its operations ... (Read Full Article)

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