JANALAKSHMI FINANCIAL SERVICES PL
Status: Completed investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Janalakshmi Financial Service Private Limited (JFS) is a BBB+ rated Bengaluru-based microfinance institution (by CRISIL, subsidiary of S&P), which provides financial services to the urban poor in India, including MSME loan products. JFS started operations in April 2008, has total assets of around US$440 million, nearly 1.5 million clients and 154 branches across 16 states as of June 2014.
What is our funding objective?
FMO's loan will be put towards financing the balance sheet of JFS, particularly its SME portfolio, which is not eligible for the local "priority sector" lending by Indian banks.
Why do we fund this investment?
JFS is acknowledged as the front runner in innovation and technology for financial inclusion. JFS is also one of the top 3 NBFI-MFIs and a potential market leader focusing on financial inclusion. It has successfully weathered the Andhra Pradesh crisis to become one of the largest and best rated NBFC-MFIs in India, with solid financials and high capitalization. Finally, JFS actively engages with the MSME sector with a focus on the bottom of the pyramid. Given FMO's strategy of creating and improving access to finance, JFS presents a strong partner in the Indian financial sector.
- Website customer/investment
- http://www.janalakshmi.com/
- Region
- Asia
- Country
- India
- Sector
- Financial Institutions
- Effective date
- 1/16/2015
- End date
- 3/19/2019
- Total FMO financing
- INR 1300.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - C