MICROCAPITAL BRIEF: Indian Microfinance Institution (MFI) Bhartiya Samruddhi Finance Limited (BSFL) Plans to Sell $56.3m Stake to Private Equity Consortium

Bhartiya Samruddhi Finance Limited (BSFL), a microfinance institution (MFI) that is part of the BASIX group, reportedly plans to sell an INR 2.5 billion (the equivalent of USD 56.3 million) stake to a group of undisclosed private equity firms.

In April of this year, BSFL raised another INR 750 (approximately USD 16.8 million) by selling non-convertible debentures. Sajeev Viswanathan, chief executive of the MFI, claimed in April that BSFL might launch an initial public offering in 2013, although no further plans have been released.

According to the Microfinance Information Exchange (MIX), BSFL reported a gross loan portfolio of USD 223.2 million, total assets of USD 302.6 million and 1.1 million active borrowers as of March 31, 2010.

About Bhartiya Samruddhi Finance Ltd (BSFL):

Bhartiya Samruddhi Finance Ltd. (BSFL) is a regulated non-banking finance company (NBFC) based in Hyderabad, India, that was founded in 1997. It is part of the BASIX Group, which provides financial services, agricultural/business development services and institutional development services to poor rural households. According to the Microfinance Information Exchange (MIX), BSFL reported a gross loan portfolio of USD 223.2 million, total assets of USD 302.6 million and 1.1 million active borrowers as of March 31, 2010.

By Trevor Kwong, Research Assistant

Sources and Additional Resources:

[1] Source Article: Economic Times: Bhartiya Samruddhi Finance to raise up to Rs 250 cr from PEs:

http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/finance/Bhartiya-Samruddhi-Finance-to-raise-up-to-Rs-250-cr-from-PEs/articleshow/6845534.cms

[2] MICROCAPITAL BRIEF: BASIX Microfinance Institution Bhartiya Samruddhi Finance Limited (BSFL) of India Plans to Raise $16.8m via Non-Convertible Debentures (NCDs):

https://www.microcapital.org/microcapital-brief-basix-microfinance-institution-bhartiya-samruddhi-finance-limited-bsfl-of-india-plans-to-raise-168m-via-non-convertible-debentures-ncds/

[3] MicroCapital Universe: Bhartiya Samruddhi Finance Ltd:

https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bhartiya+Samruddhi+Finance+Ltd+(BSFL)

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