Usha Financial Services is all set to launch its Initial Public Offering (IPO) soon. The company also received official approval earlier this month from the National Stock Exchange (NSE) Emerge for its IPO, which includes a fresh issue of 58.60 lakh share, a statement from the company notified.
It said that following the IPO, the NBFC aims to list on the NSE Emerge, a platform dedicated to support emerging businesses in India. The company’s decision to go public reflects its commitment to further growth and expansion in the financial sector.
Commenting on the same, Geeta Goswami, CEO and Co-Founder, Usha Financial Services, said in the statement, “We are excited to offer investors the opportunity to be a part of our growth story through our IPO. Usha Financial Services is dedicated to provide inclusive financial services that drive economic progress and create value for all of our stakeholders. We look forward to share further updates on our IPO closer to the opening date.”
The company also recently announced its target of achieving an Assets Under Management (AUM) of Rs 5,500 million by March 2025. This follows the company’s impressive AUM of Rs 3,060 million last year (March 2024), showcasing significant growth and potential ahead, the statement added.
It also mentioned that Usha Financial Services has established a strong presence in the market by adopting a multi-channel approach to its business operations. This approach includes innovative financial solutions such as green financing, loans to Micro, small and Medium Enterprises (MSMEs) and Small and Medium Enterprises (SMEs), agriculture loans, home improvement loans and sanitisation initiatives.
Further, according to the statement, the company has nearly 25,000 customers and expects to grow this number to 50,000 by March 2025.
