Private Equity

PE Fund Investments

Arohan Financial looking to raise Rs.150-Cr from existing investors

BusinessLine  

Kolkata-based NBFC-MFI, Arohan Financial Services Ltd, is looking to raise around INR 150 crore from existing investors. The Aavishkaar Group promoted MFI had filed a draft red herring prospectus for an IPO in February last year to raise around INR 850 crore through the issue (apart from the secondary offer). Arohan currently provides microcredit to borrowers with a focus on underpenetrated States including Assam, Meghalaya,Tripura, Manipur in the North East; West Bengal, Bihar, Jharkhand and Odisha in the East; Madhya Pradesh, Chhattisgarh, Uttar Pradesh and Uttarakhand in central India. The company had plans to expand its presence in Rajasthan, Punjab and Haryana and also strengthen its presence in Uttar Pradesh and Madhya Pradesh by setting up more branches.