Grameen Capital India, a Mumbai-based, socially-oriented advisory firm, recently announced that BlueOrchard, a Switzerland-based microfinance investment company, made an equity investment of INR 45 million (USD 1.01 million) in Svasti Microfinance Private Limited (Svasti), an Indian microfinance institution (MFI). Grameen Capital India acted as exclusive advisor to Svasti on its second round of equity funding. As of May 2011, Svasti manages a loan portfolio of INR 50.4 million (USD 1.13 million) and has approximately 8,500 borrowers. BlueOrchard had approximately USD 1.1 billion under management as of April 2011.
By Jacqueline Foelster, Research Associate
About Svasti Microfinance Private Limited (Svasti): Established in 2008, Svasti is a non-bank financial company that offers loan products to low-income urban entrepreneurs in Mumbai. As of May 2011, Svasti manages a loan portfolio of INR 50.4 million (USD 1.13 million) and has approximately 8,500 borrowers.
About BlueOrchard: BlueOrchard is a Switzerland-based, commercial microfinance intermediary that provides loans to microfinance institutions through its subsidiary BlueOrchard Finance S.A. and invests in the equity of microfinance institutions and microfinance network funds through its subsidiary BlueOrchard Investments S.A. BlueOrchard had approximately USD 1.1 billion under management as of April 2011.
About Grameen Capital India: Grameen Capital India is a “social business” based in Mumbai that promotes microfinance as an asset class and aims to enable microfinance institutions (MFIs) to develop wider access to capital markets. It is a collaboration between Grameen Foundation USA, IFMR Trust and Citigroup. Its focus is on: “Developing access to capital markets, initially in India, through securitization and other appropriate financial vehicles; structuring and arranging credit enhancements/ first loss guarantees to support the investment grade rating of the senior securities… and advising MFIs on the standards of governance, accounting, reporting, and transparency necessary to satisfy commercial financing sources.” Financial information is unavailable for Grameen Capital India.
Source and Additional Resources:
[1] Grameen Capital, Press Release, May 9, 2011, “Blue Orchard Invests Rs.4.5 Crores in Svasti Microfinance”
MicroCapital Universe Profile: Svasti Microfinance Private Limited, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Svasti+Microfinance+Private+Limited
MicroCapital Universe Profile: BlueOrchard, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=BlueOrchard
MicroCapital Universe Profile: Grameen Capital India, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Grameen+Capital+India
Browse the MicroCapital Universe and add your entry to the wiki at https://www.microcapital.org/microfinanceuniverse/tiki-index.php
Similar Posts:
- MICROCAPITAL BRIEF: BlueOrchard Sustainable Assets Fund (BOSAF) Raises $15m for Infrastructure Lending
- MICROCAPITAL BRIEF: 60 Decibels Microfinance Index Data from 32 Countries Indicates Higher Confidence Among Group Borrowers, Greatest Debt Burden in Cambodia
- MICROCAPITAL BRIEF: FMO Committing $30m to South Asia Growth Fund III to Support Equity Placements in Businesses Reducing Environmental Impacts, Mainly in India
- MICROCAPITAL BRIEF: SBFC Raises $18m from Amansa for On-lending to Small Businesses, Households in India
- MICROCAPITAL BRIEF: Enabling Qapital Loans $10m to AccessBank for Microfinance, SME Lending in Azerbaijan
