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Annapurna Finance raises Rs 155 cr to expand microfinance portfolio

Press Trust of India  |  New Delhi 

Annapurna today said it has raised Rs 155 crore from Oman India Joint Investment Fund II in its latest round of funding which will be used to expand its portfolio along with other asset classes like SME and housing

The investment is a part of Oman India Joint Investment Fund II (II) commitment to invest in total Rs 200 crore in Annapurna over a period of time, the Bhubaneshwar-headquartered company said in a release.

is a mid-market private equity firm, co-sponsored by and of Oman (SGRF).

Annapurna is the second investment from II and the first investment in the space, the release said.

"We are now committed to expand our offerings to our borrowers by venturing in new asset classes like SME and housing finance, said Gobinda Chandra Pattanaik, MD and of

Annapurna, a NBFC-MFI, has a portfolio of over Rs 2,000 crore, serving more than 1.2 million borrowers through a network of more than 400 branches across 14 states.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, June 06 2018. 16:35 IST