What does Asirvad Micro Finance Limited do?

Asirvad Micro Finance Limited is a non-banking financial company (NBFC-MFI) that provides microcredit to women entrepreneurs, self-help groups (SHGs), and joint liability groups (JLGs) across rural and semi-urban India. It is a wholly-owned subsidiary of Manappuram Finance Limited.

Who are the promoters of Asirvad Micro Finance Limited?

The primary promoter of Asirvad Micro Finance Limited is Manappuram Finance Limited, a listed gold loan NBFC. Manappuram acquired a majority stake in Asirvad in 2015 and subsequently made it a wholly-owned subsidiary.

Is Asirvad Micro Finance planning an IPO?

Yes. Asirvad Micro Finance Limited filed its Draft Red Herring Prospectus (DRHP) with SEBI in 2024 for an IPO. The IPO would enable the company to list on Indian stock exchanges and provide liquidity to existing shareholders including Manappuram Finance.

What is the ISIN of Asirvad Micro Finance Limited?

The ISIN for Asirvad Micro Finance Limited's equity shares is INE128K01010. This can be used for off-market share transfers in the unlisted market.

What is the current unlisted share price of Asirvad Micro Finance?

The indicative unlisted market price for Asirvad Micro Finance Limited shares is approximately ₹274 per share, as quoted by unlisted share intermediaries.

Is Asirvad Micro Finance profitable?

Asirvad Micro Finance has historically been profitable, supported by its growing loan book and strong parentage. However, the MFI sector faced asset quality headwinds in FY24-25 due to overleveraging concerns, which may have affected near-term profitability. Investors should review the latest DRHP and audited financials.

How large is Asirvad Micro Finance's loan book?

Asirvad Micro Finance operates a loan book in excess of ₹10,000 Crore (approximate figure based on filings up to FY24), making it one of the mid-to-large MFIs in India by assets under management.

How do I buy Asirvad Micro Finance Limited unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Asirvad Micro Finance Limited?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Asirvad Micro Finance Limited shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Asirvad Micro Finance Limited Unlisted Share Price | Buy Asirvad Micro Finance Limited Pre-IPO Shares — wisefolio

Investment Thesis

Asirvad Micro Finance Limited is a well-established NBFC-MFI backed by the credibility and capital of Manappuram Finance. Its planned IPO and large loan book demonstrate scale and institutional backing. While the MFI sector faces near-term credit stress, the long-term structural demand for microfinance in India remains strong. Pre-IPO investors should monitor the DRHP filings and sector NPA trends before taking a position.

Pros

Subsidiary of Manappuram Finance Limited, a well-capitalized and SEBI-listed NBFC, providing strong parentage and funding support
Focused on underserved women borrowers and self-help groups across rural and semi-urban India — large and underpenetrated addressable market
Filed DRHP with SEBI for IPO, indicating prospects for listing and liquidity for early investors
Strong geographic diversification across multiple Indian states, reducing concentration risk
Microfinance sector benefits from regulatory tailwinds including priority sector lending mandates for banks

Cons

MFI sector faced significant asset quality stress post-COVID and during overleveraging of rural borrowers in 2023-24
RBI regulations on MFI lending — including guardrails on borrower indebtedness and household income caps — constrain growth
Heavy dependence on parent Manappuram Finance for brand equity and capital support; standalone creditworthiness may be weaker
Geographic concentration in southern India (Tamil Nadu, Kerala, Karnataka) exposes the business to regional economic or weather-related disruptions
Microfinance borrowers have limited collateral; credit losses spike during economic distress or loan waivers by state governments

Business Segments

Microfinance Lending (JLG / SHG)

Micro-loans extended to women borrowers in rural and semi-urban areas through Joint Liability Group and Self-Help Group models

Individual / MSME Loans

Small business and individual loans to micro-entrepreneurs for income-generating activities

Revenue Model

Asirvad Micro Finance generates revenue primarily from interest income on micro-loans disbursed to women borrowers through the joint liability group (JLG) model. The company borrows funds from banks and financial institutions at wholesale rates and lends to borrowers at rates governed by RBI's MFI pricing guidelines, earning a spread. Additional income is earned through processing fees, insurance premium income, and other financial charges.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds12

Growth Plans

Successful IPO listing would unlock value for Manappuram Finance and existing investors

Rural income growth and government financial inclusion schemes (PM Jan Dhan, MUDRA) expand the addressable market

Diversification into individual and MSME lending at higher yields

Potential RBI relaxation of MFI lending caps to support sector recovery

Industry Tailwinds

Recent Developments

DRHP filed with SEBI for IPO

Asirvad Micro Finance Limited filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India in early 2024, initiating the process for listing on Indian stock exchanges.

2024-01

MFI sector asset quality concerns

The broader MFI sector, including Asirvad, faced rising non-performing assets (NPAs) due to overleveraging of rural borrowers and early signs of credit stress in key states like Tamil Nadu and Uttar Pradesh.

2024-06

Comparable Companies

CompanyTypeTickerMkt Cap

CreditAccess Grameen LimitedListedCREDITACC~12,000 Cr

Spandana Sphoorty Financial LimitedListedSPANDANA~5,000 Cr

Fusion Finance LimitedListedFUSION~3,000 Cr

Bandhan Bank (MFI heritage)ListedBANDHANBNK~35,000 Cr

Frequently Asked Questions

About Asirvad Micro Finance Limited

Asirvad Micro Finance Limited is one of India's largest microfinance institutions (MFIs), headquartered in Chennai, Tamil Nadu. Founded in 2007 by Govind Singh, the company is now a subsidiary of Manappuram Finance Limited, which acquired a controlling stake in 2015. Asirvad serves low-income borrowers — predominantly women in rural and semi-urban areas — through the Joint Liability Group (JLG) lending model, providing small income-generating loans for microenterprises. As of FY2024, Asirvad manages a gross loan portfolio (GLP) of approximately Rs 11,000-12,000 crore with over 3 million active borrowers across 22+ states. The company operates through approximately 1,300+ branches and employs over 14,000 staff. Asirvad is one of the top five MFIs in India by loan portfolio size, alongside BRAC Bangladesh, CreditAccess Grameen, Spandana Sphoorty, and Bandhan. The company received an NBFC-MFI licence from the Reserve Bank of India and adheres to RBI's Fair Practice Code and MFIN's Code of Conduct for responsible lending. Asirvad filed for an IPO in 2024, seeking to list on BSE and NSE to raise capital for further loan portfolio growth. The microfinance sector in India serves over 60 million borrowers with outstanding credit of approximately Rs 4 lakh crore, and Asirvad is well-positioned to capture growth in underserved markets.

Key Milestones

Founded in 2007 in Chennai by Govind Singh

Received NBFC-MFI licence from RBI

Common questions about unlisted shares

How do I buy Asirvad Micro Finance Limited unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

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