Asirvad Microfinance securitises MF portfolio

Asirvad Microfinance Ltd, the microfinance subsidiary of Kerala-based Manappuram Finance Ltd, Wednesday said it has securitised its microfinance portfolio amounting to Rs 250 crore with a public sector bank.

This securitisation held last month, is the eighth tranche for the current financial year and the total pool securitised with different bank amounts to Rs 611 crore, a press release said.

The company has raised funds through term loans from banks and leading non-banking finance companies and also signed securitisation deals with banks, it said.

Asirvad Microfinance currently serves to 1.6 million women members through its 930 branches across the country.