Usha Financial Services Limited (UFSL) Successfully Announce IPO, Aims for Expanded Growth in India's Financial Services Sector
Oct 21, 2024
ATK
New Delhi [India], October 21: Usha Financial Services Limited (UFSL), a leading RBI registered Non-Banking Financial Company (NBFC), is gearing up for its much-awaited Initial Public Offering (IPO). This marks a significant milestone in the company's efforts to expand its services in the areas of MSME lending, green finance, and empowerment of underprivileged communities across India.
UFSL's IPO will enable the company to augment its capital base and strengthen its ability to provide innovative financial solutions to over 20,000 customers across 18 states and 280 Districts, including Delhi NCR, Rajasthan, Uttar Pradesh, Tamil Nadu and others. This strategic move will strengthen the company's leadership in green finance, particularly electric vehicle (EV) financing, a key pillar of its growth strategy.
Geeta Goswami, CEO of Usha Financial, commented on the upcoming IPO, "The IPO will enable UFSL to further its goal of bridging financial gaps and empowering small businesses, entrepreneurs, and sustainable initiatives. The proceeds will allow us to scale our operations, expand our geographical footprint, and enhance our client-centric services in key markets.
The company has demonstrated robust growth with a current asset under management (AUM) of over Rs.320 crore with the net owned fund of Rs.110 Crore Approx. and a strong commitment to women entrepreneurs, with 70% Approx. of its clients being women-led businesses.
The IPO will strengthen UFSL's leadership, enhancing financial inclusion and sustainable growth by utilizing innovative solutions like EV financing and supporting women entrepreneurs.
About Usha Financial Services Limited (UFSL):
Founded in 2016, UFSL is a dynamic NBFC dedicated to providing customized financial solutions to MSMEs, agriculture entrepreneurs, and green financing initiatives. Headquartered in Delhi, the company serves a broad client base across India and is committed to supporting sustainable economic growth and financial inclusion.
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