Share Microfin Plans IPO; To Close Rs 250 Cr PE Round in A Month

Hyderabad-based Share Microfin Ltd, the second largest microfinance institution (MFI) in India, is planning to go for a public offering in next two years. “In less than two years, we can for an IPO,” said Dr Udaia Kumar, Founder and Managing Director, of Share Microfin Ltd in an interview to VCCircle.
The company is also raising a private equity round of $50 million (Rs 250 cr), which it plans to complete in a month’s time. Share is raising funds from its existing investors and International Finance Corp (IFC), the private equity arm of the World Bank, and others.
Share is also charting out an aggressive expansion strategy. The MFI plans to have 13 million clients with cumulative loan distribution of Rs 68,000 crore by 2014, said Kumar. Share Microfin presently has 2 million clients with cumulatively distributed Rs 5,300 crore ... [Follow Original Article link for full content.]