Kolkata: In one of the biggest portfolio acquisitions in the microfinance sector, Gawa Capital-backed Pahal Financial Services has acquired a Rs 700-crore loan portfolio from Hyderabad-based Sub-K Impact Solutions along with its loan delivery set-up.
The acquisition was completed last week of September. The development helped Pahal's on-balance sheet as well as off-balance sheet book grow to Rs 2300 crore, taking it among the top 15 NBFC-MFIs.
Michael & Susan Dell supported Sub-K had two business verticals -- agent network management, which is also known as customer service points (CSP), and microfinance loan delivery as business correspondents on behalf of banks. While it has sold the BC business to Pahal, it will continue its CSP vertical, people aware told ET.
The integration of more than 250 BC outlets will extend Pahal’s footprint to four more states -- Karnataka, Uttarakhand, Goa and Punjab -- and deepen its penetration in Maharashtra.
Spanish investor Gawa owns about 21% in the micro lender while Proparco, a French development finance institution, invested 12.7 million euro (around Rs 115 crore) to buy about 19.5% stake in April. Singapore-based BOPA (Base of Pyramid Asia) and local investor Dia Vikas Capital are other major stakeholders in the company, which was founded in 2011. Pahal has over 10 lakh customers catered through 360 branches. It has over 3000 employees.
Sub-K was promoted by Vijay Mahajan, the founder of the BASIX Social Enterprise Group in 2010.
The acquisition was completed last week of September. The development helped Pahal's on-balance sheet as well as off-balance sheet book grow to Rs 2300 crore, taking it among the top 15 NBFC-MFIs.
Michael & Susan Dell supported Sub-K had two business verticals -- agent network management, which is also known as customer service points (CSP), and microfinance loan delivery as business correspondents on behalf of banks. While it has sold the BC business to Pahal, it will continue its CSP vertical, people aware told ET.
The integration of more than 250 BC outlets will extend Pahal’s footprint to four more states -- Karnataka, Uttarakhand, Goa and Punjab -- and deepen its penetration in Maharashtra.
Spanish investor Gawa owns about 21% in the micro lender while Proparco, a French development finance institution, invested 12.7 million euro (around Rs 115 crore) to buy about 19.5% stake in April. Singapore-based BOPA (Base of Pyramid Asia) and local investor Dia Vikas Capital are other major stakeholders in the company, which was founded in 2011. Pahal has over 10 lakh customers catered through 360 branches. It has over 3000 employees.
Sub-K was promoted by Vijay Mahajan, the founder of the BASIX Social Enterprise Group in 2010.
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