Sindhuja Microcredit crosses Rs 200 cr AUM

Sindhuja Microcredit on Tuesday said it has crossed Rs 200 crore of assets under management AUM and one lakh active women clients in two-and-half years of its launch.The Noida-based non banking financial company, which received RBI licence in September 2018, operates in five states with 68 branches and more than 400 on-roll staff.

Sindhuja Microcredit on Tuesday said it has crossed Rs 200 crore of assets under management (AUM) and one lakh active women clients in two-and-half years of its launch.

The Noida-based non banking financial company, which received RBI licence in September 2018, operates in five states with 68 branches and more than 400 on-roll staff. In May last year, it raised Rs 65 crore through equity. It attracted an impact investor -- Nordic Microfinance Initiative (NMI) -- which infused Rs 35 crore and committed to further infuse Rs 10 crore in February 2021.

Existing investor, Carpediem Capital, has also infused Rs 10 crore and committed to infuse Rs 10 crore in February 2021, the micro lender said in a release. With this infusion, the networth of the lender will be over Rs 100 crore, it said.

“Despite the liquidity crisis due to IL&FS episode and on-going pandemic for last 10 months, Sindhuja was able to grow and maintain high quality portfolio and became profitable in its first full year of operations,” its founders , Abhisheka Kumar and Malkit Singh Didyala, said. The micro finance institution will consistently make improvements in its processes to strengthen its risk management and will grow at a steady rate striking a right balance between top line and bottom line, they added.