The delay in the IPO represents a blow to Manappuram Finance, which had raised its stake in Ashirwad Microfinance in June 2022, acquiring a majority stake as part of its broader diversification strategy. Asirvad Microfinance had filed a DRHP with SEBI to raise Rs 1,500 crore from the public back in October last year.
“There are many players in gold loans but we are in the small ticket size segment. The average ticket size is around Rs 50,000 and these are short-term loans in the sense that the average loan period is around 100 days. In this segment, what is most sought after is the quick delivery and doorsteps servicewherever required. In these areas, there is enough headroom for us to play.”