Aviator Emerging Market Fund invests in vehicle finance NBFC Amrit Malwa
Sep 16, 2020
Mumbai (Maharashtra) [India], September 16 (ANI/Digpu): Focusing on your strengths can be a winning move. The NBFC Amrit Malwa Capital Ltd (AMCL) has done so successfully for over 33 years, by focusing on vehicular financing in key States of Punjab, Himachal Pradesh, and Rajasthan.
Amrit Malwa, established in 1987, has grown robustly to an asset base of 280 Crores as of March 2020. They service more than 65,000 customers through an active database.
Aviator Emerging Market Fund operates under a License issued by the Mauritius Financial Services Commission. It is also registered with the Securities and Exchange Board of India (SEBI) as a Foreign Portfolio Investor. The fund has a clear focus on the Financial Services Sector, particularly NBFCs and Microlenders in India.
Aviator Emerging Market fund has invested into Amrit Malwa Capital Ltd through NCDs (Non-Convertible Debentures).
"Amrit Malwa's network is spread across urban, and more especially rural areas. They are able to help people in remote areas get loans for two-wheelers and other personal or commercial vehicles that a large bank would've turned away. Our investment in Amrit Malwa helps support rural people in their livelihood and makes them less dependent on rural public transport or infrastructure," said Ashish Bhandari, Investment Advisor at Aviator EMF, while speaking about the investment.
"We are delighted to have an international partner like Aviator EMF place their trust in us through this investment. We are already the number one NBFC in North India for two-wheeler finance, and through this investment we aim to consolidate our position and expand further into newer geographies. In the long term, we aim to expand to more offerings in the financing space," said Ajit Pal Singh, Managing Director of Amrit Malwa Capital Ltd.
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