September 2009
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BlueOrchard PE Fund invests Rs 50 cr in Asmitha Microfin

Hyderabad-based Asmitha Microfin Limited has closed its second round of equity infusion with BlueOrchard Private Equity Fund pumping in Rs 50 crore.
Asmitha Microfin Limited, a Hyderabad-based microfinance institution and one of the top five microfinance institutions in India in terms of portfolio size, presently serves 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 in India.

“This additional capital infusion of Rs. 50 crore would enable Asmitha in expanding its operations deeper into the Indian rural markets and offering its services to many more of the under-served poor in these regions. Further, this investment will enable the institution in accomplishing the growth targets set forth by the company for the next couple of years.

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,” says Dr. Vidya Sravanthi, Chairperson and Managing Director,
Asmitha Microfin Limited.
Source: Micro Finance Focus

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