Grama Vidiyal raises over USD 4 million of equity capital, the first equity investment in India in 2009
Tamil Nadu, India-based microfinance institution successfully completes second round of equity infusion from MicroVest, Unitus Equity Fund I (UEFI) and Amar Foundation.
Tamil Nadu, India June 16, 2009: Grama Vidiyal Microfinance Private Ltd (GVMFL) is pleased to announce the successful completion of the second round of equity infusion of USD 4.25 million. GVMFL provides financial services to 400,000 microfinance clients and has a loan portfolio of over USD 40 million. The new capital will be utilized to support the company’s major expansion plans over the next twelve months and meet the enhanced capital adequacy norms set by the Reserve Bank of India.