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Stocks to buy: CreditAccess Grameen, Ujjivan SFB among three microfinance stock picks by Axis Securities

Stocks to buy: Axis Securities lists three stocks to buy in the microfinance sector. Check out its top picks in the sector:

CNBC TV18

SK Finance, Belstar Microfinance, and Transrail Lighting get SEBI nod for IPOs

According to the draft red herring prospectus (DRHP), SK Finance’s proposed IPO is a combination of a fresh issue of equity shares worth Rs 500 crore and an offer-for-sale (OFS) of up to Rs 1,700 crore by promoters and investor shareholders.

CNBC TV18

SK Finance, Belstar Microfinance, and Transrail Lighting get SEBI nod for IPOs

According to the draft red herring prospectus (DRHP), SK Finance’s proposed IPO is a combination of a fresh issue of equity shares worth Rs 500 crore and an offer-for-sale (OFS) of up to Rs 1,700 crore by promoters and investor shareholders.

The Economic Times

Microfinance sector to stabilise by Q4 amidst current challenges & new regulations

The microfinance sector is expected to stabilize by the end of the third quarter, with improvements anticipated from the fourth quarter onward due to new measures adopted by lenders. However, the sector is currently facing challenges, including high portfolio risk and elevated credit costs, which are likely to persist into the second quarter.

CNBC TV18

SK Finance, Belstar Microfinance, and Transrail Lighting get SEBI nod for IPOs

According to the draft red herring prospectus (DRHP), SK Finance’s proposed IPO is a combination of a fresh issue of equity shares worth Rs 500 crore and an offer-for-sale (OFS) of up to Rs 1,700 crore by promoters and investor shareholders.

CNBC TV18

SEBI gives IPO go-ahead to Muthoot Finance's Belstar Microfinance, Transrail Lighting

In another development, Transrail Lighting has also secured SEBI's nod for its IPO. The offering will feature a fresh issue of ₹450 crore and an OFS of 1 crore shares by promoter Ajanma Holdings.

The Economic Times

Stress in some MFIs does not warrant regulatory action: Senior RBI official

The Reserve Bank of India reassures there is no systemic risk in the microfinance sector despite recent stress. Senior officials highlighted that concerns are entity-specific, and no strict regulatory action is planned. Ashima Goyal of the Monetary Policy Committee indicated non-performing assets are manageable and the banking system remains resilient.

The Economic Times

Microfinance institutions face debt funding squeeze

The pure-play microfinance lenders categorized as NBFC-MFIs saw nearly 12% less debt funding in the first quarter, according to MFIN data. Lower disbursements and external factors have worsened portfolio quality, while the total assets under management grew 23% year-on-year, but dipped slightly compared to the previous quarter.

The Economic Times

Fusion Finance likely to face short term challenges amid rising credit costs, lower collection efficiency

The stock of Fusion Finance (formerly Fusion Microfinance) has gained over 9% in three trading sessions to August 28 following the company’s announcement on exchanges that the Odisha State Tax department has dropped the show cause notice issued in May directing the company to pay nearly Rs 1.2 crore towards penalty for the excess claim of input credit regarding state GST.

The Economic Times

Heatwave, elections caused a sequential squeeze in India's microfinance sector

Funding constraints and over-heating of credit in some geographies have also dented the growth momentum, microfinance industry association Sa-Dhan said, citing data from credit information company Crif High Mark.

The Economic Times

IREDA may set up arm to help finance small biz, retail clients

Indian Renewable Energy Development Agency Ltd (IREDA) announced plans to establish a subsidiary to finance small businesses and retail customers involved in renewable energy projects. The subsidiary will partner with microfinance firms and other non-banking finance companies to provide support in areas lacking adequate banking services.

The Economic Times

Sonata Finance to merge with BSS Microfinance: Kotak Bank

Kotak Mahindra Bank’s subsidiaries Sonata Finance and BSS Microfinance approved merging, pending regulatory and shareholder approvals. The merger follows an independent valuation and includes a share exchange. The combined net worth of Sonata and BSS is under 2% of the bank’s net worth. The bank’s shareholding pattern remains unchanged.

Business Standard

Sonata Finance to merge with BSS Microfinance: Kotak Mahindra Bank

As per the scheme of amalgamation approved on Monday, Sonata would merge with BSS Microfinance Ltd on a going concern basis, Kotak Mahindra Bank said in a regulatory filing

Mint

MFI major CreditAccess scouts a new owner with $2.7 bn valuation

Amsterdam-based CreditAccess India B.V., backed by Olympus Capital Asia and Asian Development Bank, is planning to sell controlling stake in India's largest microfinance firm CreditAccessGrameen

The Economic Times

4 reasons why MFs are stocking up on CreditAccess Grameen and other microfinance lenders

The mutual fund holding in microfinance lenders like CreditAccess Grameen and Fusion Micro has been on a rise despite the stocks underperforming the benchmark. Here are the reasons why fund houses are bullish on them.

The Economic Times

From stolen bicycle to big biz: How a humble man built a bank from scratch

Chandra Shekhar Ghosh, founder of Bandhan Bank, transitioned from CEO to a strategic role after starting as an NGO and growing it into India's largest microfinance institution turned universal bank. Overcoming his humble beginnings, Ghosh's journey inspires entrepreneurs as he reshapes the banking landscape with his dedication and innovative vision.