KLM Axiva Finvest Ltd expands in Maharashtra, Opens nodal office & branches in MMR, Begins preparations for IPO

Mumbai (Maharashtra) [India], February 3 (ANI/PNN): South India's leading NBFC, KLM Axiva Finvest Ltd expands its footprint in Maharashtra. Dr Narendra Mairpady, Former Chairman & MD, Indian Overseas Bank in the presence of Shibu Thekkumpuram Executive Director, KLM Axiva inaugurated the company's zonal office. This occasion also marks the commencement of the company's operations across 25 centers in the Mumbai Metropolitan Region.

"Being 24+ years in the business with over 570+ branches across 5 southern states we are now entering Maharashtra. We see tremendous potential in Mumbai and Maharashtra in times to come. So, starting with Mumbai Metropolitan Region we will be opening 100+ centers across Maharashtra by the end of next financial year and we expect to reach a milestone of 5000 Crore by 2025 said Manoj Ravi - Chief Executive Officer, KLM Axiva Finvest

KLM Axiva Finvest being a non-deposit-taking systemically important NBFC, primarily focuses on providing Gold Loan, MSME Loan, Personal Loan, and Micro-Finance Loans. In order to create a robust ecosystem of secured financial lending the company has begun preparations for an Initial Public Offering.

KLM Axiva Finvest has appointed Vivro Financial Services as the merchant banker & has signed the mandate for IPO Equity Issue. The draft prospectus for IPO Equity Issue is to be filed in 2023 & shall commence in the year 2024."

The company also held investors meet to brief them about the company's performance, future plans, and the upcoming 8th edition of NCD that KLM Axiva Finvest plans to launch in the coming days. The company had successfully raised 189 Crores during its last NCD issued in Oct 2022.

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