Janakalyan eyes assets of Rs 350 crore The Calcutta-based NBFC-MFI is also planning to expand into new markets such as Chhattisgarh and eastern Uttar Pradesh next fiscal
Sidbi Venture Capital-backed non-bank microfinance institution (NBFC-MFI) Janakalyan Financial Services Private Limited has set its sights on an asset base of around Rs 350 crore by 2021-22.
The Calcutta-based NBFC-MFI is also planning to expand into new markets such as Chhattisgarh and eastern Uttar Pradesh next fiscal following a dose of capital infusion by Bhubaneswar-based investor Sun Tech City Pvt. Ltd, which picked up a 12 per cent equity stake.
Sun Tech becomes the second institutional investor in the microlender after Sidbi Venture Capital.