Asirvad Microfinance IPO GMP: At present, if you want to make strong earnings by investing in IPO, then this news is beneficial for you. IPO of Asirvad Microfinance Company will open for investment soon. SEBI has approved the IPO of Asirvad Microfinance Company, a subsidiary of Manappuram Finance Company.
About Asirvad Microfinance IPO GMP
In February 2015, Manappuram Finance Company acquired the majority stake of Chennai-based Asirvad Microfinance Company. On the news of IPO of Asirvad Microfinance Company, shares of Manappuram Finance Company rose by 4 percent and crossed Rs 200. On Thursday, May 2, 2024, the stock of Manappuram Finance is trading at Rs 201.05 with a rise of 0.45 per cent.
Company Previous Record
According to the annual report for the financial year 2023-24, Asirvad Microfinance is currently managing assets worth Rs 10,040.89 crore. In the last financial year, the company has earned a net profit of Rs 218.13 crore. This company has distributed a total of Rs 19248 crore loans to its customers in the last financial year. The company operates 1684 branches across 391 districts in 22 states and 3 union territories in India.
Asirvad Microfinance IPO GMP
The IPO size of Asirvad Microfinance is Rs 1500 crore. At present there are 15784 employees in this company. So far, this company has distributed loans worth Rs 19,248 crore to a total of 32 lakh people. In October 2023, Ashirwad Microfinance Company filed a red herring prospectus for an IPO with SEBI.
Manappuram Finance Company holds 95 percent stake in Asirvad Microfinance. The remaining 5 percent stake is held by the founder of Asirvad Microfinance Company. In February 2015, Manappuram Finance Company had purchased 71 percent share capital of Asirvad Microfinance Company. Later, in June 2022, the company increased its investment to 95 percent.
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