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Shubhalakshmi Finance, a non-banking finance company (NBFC), aims to nearly triple its loan book size to Rs 400 crore during the current financial year. During the last financial year, the company had disbursed loans to the tune of Rs 150 crore.
To meet the rising loan demand, the NBFC will raise funds from a set of banks, both public and private, Shubhalakshmi Finance said in a statement. The company is also planning to expand operations in 2-3 more states and recruit 200 people at various levels, it said.
Currently, it said, the NBFC has presence across seven states, including Delhi NCR, Punjab, Haryana, Uttar Pradesh, Himachal Pradesh, Chandigarh and Bihar.
Shubhalakshmi Finance has a customer base of around 45,000 and average ticket size of the loan is around Rs 50,000. The networth of the NBFC stood at Rs 20 crore as on March 31, 2019.
