Village Financial Services targets Rs. 1,500 crore disbursements in FY19
Kolkata-based micro-finance institution (MFI) Village Financial Services (VFS) is targeting to touch a disbursement figure of Rs. 1,500cr in FY2018-19. This month, VFS had disbursed the highest monthly amount of Rs. 192.5cr. "We are targeting to touch the disbursement mark of Rs. 1,500cr in the current financial year. In September, we disbursed the highest monthly amount of Rs. 192.5cr," an official said.
VFS had decided to leverage Rs. 2,200 crore
With all these disbursements, the accumulated disbursal in 2018 stood at Rs. 950cr, the official said. Operating in ten states of the country, VFS had decided to leverage Rs. 2,200cr in the form of debt from banks and financial institutions, out of which Rs. 1,400cr had already been done. Leveraging of the balance amount Rs. 800cr would be completed during the current financial year.
VFS would raise Rs. 70-100 crore in next 3 months
The official said that in the next three months, VFS would raise Rs. 70cr to Rs. 100cr through the private equity route. VFS had already infused around Rs. 40cr from private equity by diluting around 18.6% stake, he added.
