Leveraged Financials - Microfinance: Positioning for the Down Cycle
The INR4.2trn microfinance industry (MFI) has witnessed a strong 20% CAGR over FY21-24, driven by a simultaneous increase in borrower count (13%...
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Q2FY25 Earnings Preview - Banks, Financial Services and Insurance
Mirroring the systemic credit growth trends, we expect banks under our coverage (incl. SFBs) to register credit growth of ~14/4% YoY/QoQ.
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Belstar Microfinance Pre-IPO - Accelerating Profitability Growth With A Diversified Network
Belstar Microfinance Limited is looking to raise around US$156m in its upcoming India IPO. In this note, we talk about the company’s historical...
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CreditAccess Grameen Ltd. - In-Line Quarter, Near-Term Asset Quality Concerns to Persist!
Operational Performance: CAGrameen added ~1.9 Lc borrowers during Q1FY25, taking the total customer base to ~5 Mn customers (+13% YoY).
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Muthoot Microfin Lockup Expiry - Pre-IPO Investors Well in the Money Despite the Stock’s Performance
Muthoot Microfin (MUTHOOTM IN) raised around US$115m in its Indian IPO, after pricing the deal at the top end of its IPO range at INR291/share.
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