Annapurna Fin eyes Rs 8,500 cr in assets by March 23; mulls SME credit arm

Gets $15 mn in equity from French investors, total fundraise reaches $100 mn

With fresh capital infusion of $15 million from French financial institution Proparco, Bhubaneshwar-based MFI Annapurna Finance Ltd  expects to grow assets under management (AUM) by over 25 per cent to Rs 8,400-8,500 crore by March 2023.

The micro finance institution (MFI) has raised a total of $100 million in equity from impact investors and financial institutions during the past 15 months. In March 2021, Nuveen Global Impact Fund put in $30 million, followed by $20 million from DEG in November that year and $35 million from Encourage Capital, Accion and existing investor Oikocredit in December 2021.

Annapurna will use the