Annapurna Microfinance Pvt. Ltd has raised ₹155 crore from Oman India Joint Investment Fund to expand its microfinance offerings and capitalize on growth opportunities in rural India.

Information on the Target

Annapurna Microfinance Pvt. Ltd, based in Bhubaneswar, India, has successfully raised ₹155 crore from the Oman India Joint Investment Fund (OIJIF). Founded by social activist Gobinda Pattanaik, Annapurna is recognized as a leading microfinance institution (MFI) in eastern India, boasting a robust portfolio of over ₹2,000 crore. The company caters to more than 1.2 million borrowers through its extensive network of over 400 branches spanning 14 states.

Annapurna primarily focuses on providing micro loans, particularly aimed at women borrowers, to support income-generating activities. This recent equity infusion positions the company as one of the best-capitalized MFIs in the nation, signaling a strategic move towards expanding its financial offerings.

Industry Overview in India

The microfinance sector in India plays a crucial role in promoting financial inclusion for underserved populations, particularly in rural areas. With a significant portion of the population engaged in informal employment, microloans enable individuals to start a