Asirvad Microfinance Ltd

Largest and most diversified MFI in terms of geographical spread, with lowest concentration among top three states.

Third largest MFI in terms of AUM, with scalable operations, well positioned to capture industry tailwinds and controlled ticket sizes compared to peers.

Commitment towards simplified, borrower-centric products and processes which help in better business transparency, growth and borrower relationship.

Low-cost liability franchise, backed by diverse borrowing mix and lender base; First NBFC-MFI to be rated AA- by a credit rating agency.

Non-payment or default owing to the profile of borrowers in the microfinance industry, whom its service, may lead to increased levels of non-performing assets, related provisions and write-offs that may adversely affect its business, results of operations, cash flows and financial condition.

The quality of its portfolio may be impacted due to higher levels of non-performing assets ("NPAs") and its business may be adversely affected if the company is unable to create adequate provisions for such higher levels of NPAs.

Its business is vulnerable to interest rate risk. Volatility in interest rates for both lending and treasury operations could have an adverse effect on its net interest income and net interest margin, thereby affecting its results of operations and cash flows.

Its inability to meet the company obligations, including financial and other covenants under its debt financing arrangements could adversely affect its business, results of operations, cash flows and financial condition.