Ananya Finance is a microfinance NBFC being promoted by Friends of Women’s World Banking (FWWB) which was founded by Ela Bhatt (SEWA) in 1982. FWWB created Ananya in March 2010 with the intent of reaching out to a larger section of microfinance institutions and building a large lending portfolio
The International Finance Corporation (IFC), a part of the World Bank Group , is planning to pick up a 20 per cent stake in Ahmedabad based Ananya Finance For Inclusive Growth, a non banking finance company (NBFC) that provides financial and non-financial services to microfinance institutions (MFIs) in India. Market sources reveal that IFC could pay upto US$10 Million to acquire the 20% stake in Ananya Finance For Inclusive Growth
Ananya currently provides a channel to reach out to the large number of under-served and poor microfinance clients, as it works across 17 states in India with more than 122 partner organisations, who have a collective outreach of more than 14 million people.
According to information provided by IFC, Ananya is expected to raise about Rs 150 crore in equity to strengthen its capital adequacy and to lend a larger amount in the new entity. IFC’s proposed investment in Ananya consists of an equity investment of up to Rs 50 crore for up to 20 per cent stake in the company.
The firm would be a microfinance institution and will start with a portfolio of Rs 400 crore transferred over from the trust, resulting in transfer of active borrower relationships. The main promoter of Ananya would be Indian Foundation for Inclusive Growth (IFIG) Trust. Vijaylakshmi Das, Jayshree Vyas, Anjali Bansal,Brij Mohan and Girija Srinivasan are the present directors on the board of Ananya, with Vijayalakshmi Das as managing director.