There will be huge earnings by investing money in this IPO, know the complete details of the company

Ashirwad Micro Finance has given loans to 32 lakh people. It has distributed a total of Rs 19,248 crore as loan. Apart from this, it has also provided employment to 15,784 people. Ashirwad Micro Finance has a total of 1,684 branches in 391 districts of 22 states and 3 union territories in the country.

People think that they will get good returns by investing only in the shares of trustworthy and reliable companies, but this is not the case. You can also get bumper returns by investing in IPO. For this you will have to wait a little. There are many new companies in the market which have recently been listed in the stock market and are doing good business. Investors investing in these newly listed companies are getting good returns. In such a situation, there is a competition among the companies to bring their IPO in the market.

According to the information, so far 31 companies have been listed in the stock market in the business year 2023-24, but the mainboard is a different matter. Mainboard IPO is currently creating a stir in the market. It has raised a total fund of more than Rs 26,300 crore in the business year 2023- 24. At the same time, Ashirwad Micro Finance, a subsidiary of recently listed non-banking financial company Manappuram Finance, has tried to raise huge funds through IPO. It has filed a DRHP with market regulator Securities and Exchange Board of India to raise around Rs 1500 crore from the IPO. It is being said that the amount received from the fresh issue will be used for the progress of the company.

The special thing is that Ashirwad Micro Finance has selected JM Financial Formula and Kotak Investment Banking as lead managers for the fresh issue.

acquired the company

Ashirwad Micro Finance Limited was started in the year 2007. The main objective of starting this company was to provide necessary funds to the poor people to make them financially self-reliant. In 2015, Manappuram Finance acquired majority stake in this Chennai based microfinance firm as part of its diversification strategy. After this he acquired this company.

Earned a profit of Rs 218.13 crore

According to the annual report for the financial year 2022-23, Ashirwad Micro Finance has total assets of Rs 10040.89 crore. The special thing is that during the financial year 2022-23, the company had earned a profit of Rs 218.13 crore, which is much more than the financial year 21-22.