New Delhi, April 4: Non-Banking Finance Company, Manappuram Finance, has recently infused Rs 263.92 crore in its micro-finance arm Asirvad, a company statement said.

“The recent capital infusion by the parent company Manappuram will enable Asirvad’s portfolio grow from the present level of Rs 3,800 crore to over Rs 5,500 crore by March 2020. Presently Asirvad caters to 1.8 million microfinance clients in 22 states across India,” said Raja Vaidyanathan, Managing Director, Asirvad.

This capital infusion will help Asirvad to leverage its microfinance loan portfolio. After the rights issue, Manappuram holdings in Asirvad will be 93.33 per cent.