Moneyboxx Finance Limited, a BSE-listed NBFC that provides small-ticket business loans to micro-enterprises, more than doubled its AUM during FY24 with AUM crossing INR 720 crore as of Mar'24. The company remains committed to empowering micro-entrepreneurs and sees strong growth opportunities in rural and semi-urban India. Bolstered by its proven business model, huge market potential, growth in lending partnerships and planned capital raise, Moneyboxx aims to nearly double its AUM to INR 1,400 crore by Mar'25. It currently has 100 branches in eight states in north, central and west India, and plans to significantly expand its presence and enter south India in FY25.
With cumulative disbursements of over INR 1200 crores as of March 2024, Moneyboxx has transformed the lives of over 150k borrowers (including co-borrowers), of which 59% were women and 35% new-to-credit. The company caters to the unmet credit needs of micro-entrepreneurs with the aim of driving financial inclusion in rural and semi-urban India.
Mr. Mayur Modi, Co-Founder, Moneyboxx, said "We see significant potential for growth within the Rs 1-10 lakh business loan sector, recognizing the substantial gap in credit availability for micro-enterprises and the limited number of specialized providers in this field. We have successfully scaled up our operations in the last five years and built a scalable and sustainable business model with strong portfolio quality owing to our robust, tech-driven underwriting practices and strong customer connect through on-ground presence."
Currently supported by 32 lenders, including prominent banks like State Bank of India, HDFC Bank, and Kotak Mahindra Bank, the company has raised cumulative debt of over INR 760 crore. Moneyboxx has relatively strong asset quality with one of the lowest NPAs in the segment owing to its focus on essential sectors and robust underwriting practices.
The company recently raised $9 Mn as part of a strategic funding round via preferential allotment to HNIs, family offices and individual investors.
Shares of Moneyboxx Finance Ltd was last trading in BSE at Rs. 269.70 as compared to the previous close of Rs. 265.75. The total number of shares traded during the day was 16228 in over 294 trades.
The stock hit an intraday high of Rs. 275.00 and intraday low of 257.10. The net turnover during the day was Rs. 4298445.00. |
