TruCap has witnessed the maximum growth in MSME gold loan business in tier 3 and tier 4 cities with women borrowers in the age group of 31-40 years being one of their biggest customers. The growth in disbursal has been 108 percent till June 2023 as compared to the same period last year with 42% addition in new borrowers.
TruCap Finance Limited’s Rohan Juneja speaks to DH’s Shakshi Jain delving into the credit health of the sector seen as the backbone of the Indian economy.
TruCap Finance Limited (TRU) and HDFC Bank, on Thursday announced their partnership to offer loans to underserved borrowers such as MSMEs. Under the pact, TRU will leverage its Lending-as-a-Service (L-a-a-S) model to offer quality credit solutions to underserved borrowers, primarily in non-urban locations.
TruCap Finance Limited (TRU) and HDFC Bank Limited have commenced business under a co-lending partnership where TRU will leverage its Lending-as-a-Service (L-a-a-S) model to offer quality credit solutions to underserved borrowers. Under this partnership, HDFC Bank and TRU will offer MSME Business Loans and Gold Loans to borrowers pre-dominantly in non-urban locations.
TruCap Finance, HDFC Bank commence business under co-lending partnership.
TruCap Finance Limited (TRU), a non-banking finance firm, and HDFC Bank have formed a co-lending alliance on Thursday, aiming to provide quality credit solutions to underbanked borrowers, primarily in non-urban areas. The collaboration will focus on micro, small, and medium enterprises (MSME) business loans and gold loans, responding to the significant demand in the MSME sector, which is currently estimated at Rs 6.93 million crore (Rs 1 crore = $120,289) and growing at an annual rate of 11.5%.
TruCap Finance Limited (TRU) and HDFC Bank have commenced business under a co-lending partnership where TRU will leverage its Lending-as-a-Service (L-a-a-S) model to offer quality credit solutions to underserved borrowers. Under this partnership, HDFC Bank and TRU will offer MSME Business Loans and Gold Loans to borrowers pre-dominantly in non-urban locations. According to industry estimates, the MSME sector has a total credit demand of INR 69.3 trillion, growing at a CAGR of 11.5% with less than 15% of the demand being catered to by formal sources.
TruCap Finance Limited (TRU), a non-banking finance firm, and HDFC Bank have formed a co-lending alliance on Thursday, aiming to provide quality credit solutions to underbanked borrowers, primarily in non-urban areas. The collaboration will focus on micro, small, and medium enterprises (MSME) business loans and gold loans, responding to the significant demand in the MSME sector, which is currently estimated at Rs 6.93 million crore (Rs 1 crore = $120,289) and growing at an annual rate of 11.5%.
TruCap Finance Limited (TRU) and HDFC Bank have joined forces for a co-lending partnership. TRU, a non-banking finance company, specializes in gold and business loans. TRU will use its Lending-as-a-Service (L-a-a-S) model to provide credit solutions to underserved borrowers. The partnership focuses on offering MSME business loans and Gold Loans mainly to borrowers in non-urban areas.
The collaboration will primarily cater to borrowers in non-urban areas by providing MSME business loans and gold loans.
TRU has cumulatively disbursed more than Rs 2,000 crore in loans to over 1.9 lakh customers to support credit inclusion of underserved businesses
The non-banking finance company (NBFC), which focused on micro, small, and medium enterprises (MSMEs), disbursed Rs 261 crore in the June 2023 quarter, compared to Rs 237 crore disbursed in the year ago period. In the last five years, the company has disbursed 2,080 crore billion to more than 1,90,000 borrowers over the last five years.
TruCap Finance Ltd., focused on micro, small, and medium enterprises (MSMEs), has been investing to build a formidable distribution ecosystem by setting up Dhanvarsha branches in a cluster-based approach.
TruCap Finance’s (NSE:TRU, BOM:540268) disbursements rose to 2.61 billion Indian rupees in the fiscal first quarter from 1.64 billion rupees a year ago. The non-banking finance company opened 31 branches during the quarter ended June 30, according to a Wednesday release.
As a leading non-banking finance company (NBFC) focused on micro, small, and medium enterprises (MSMEs), TruCap has disbursed ~INR 2.61 billion in the quarter ended June’23 vs. ~INR 2.37 billion in Mar’23 and ~INR 1.64 billion in Jun’22 translating to an AUM in excess of INR ~6.5 billion with over 65,000+ active borrowers.
TruCap Finance plans to focus on cluster lending to tap small and medium enterprises in tier-II and -III cities. The company has also tied up with HDFC Bank, DCB, Central Bank of India and Shivalik Small Finance Bank for co-lending to small businesses.
Mr. Rohan Juneja, Managing Director and CEO of TruCap, said “We are delighted to announce our company’s listing on the National Stock Exchange, marking an important milestone in our journey. We believe this announcement will open up opportunities for more investors to be a part of our growth story. We remain committed to delivering value to all our stakeholders, including our customers, employees, shareholders, and the communities in which we operate.”
Timeline mention: TruCap Finance Ltd, a non-banking finance company (NBFC) has listed its equity shares on the National Stock Exchange (NSE) on Tuesday. Today the company’s shares were trading 4.6% higher at Rs 60.2.
Mumbai, Jun 30 (PTI) Non-banking finance company TruCap Finance Ltd, formerly known as Dhanvarsha Finvest Limited, on Tuesday announced the listing of its shares on the NSE. The lender, which focuses on borrowers from the micro, small, and medium enterprises (MSMEs) sector, is already listed on the BSE.
Non-banking finance company TruCap Finance Ltd, formerly known as Dhanvarsha Finvest Limited, on Tuesday announced the listing of its shares on the NSE.The lender, which focuses on borrowers from the micro, small, and medium enterprises MSMEs sector, is already listed on the BSE.We are delighted to announce our companys listing on the NSE, marking an important milestone in our journey.
TruCap Finance, formerly known as Dhanvarsha Finvest Limited, a non-banking finance company (NBFC), a BSE-listed entity, focused on micro, small, and medium enterprises (MSMEs) has listed its equity shares on the National Stock Exchange (NSE) today. As one of India’s leading stock exchanges, the NSE operates nationwide trading terminals, facilitating convenient trading for investors across the country.
TruCap Finance lists equity shares on NSE, sees 6% gain in opening trade. The stock was already listed on BSE earlier. The company’s revenue jumps by 52.93%, net income up 362.31% on YoY basis. AUM stands at Rs. 454.9 crores.
Net Sales at Rs 32.77 crore in March 2023 up 42.27% from Rs. 23.03 crore in March 2022.
Quarterly Net Profit at Rs. 0.48 crore in March 2023 up 362.45% from Rs. 0.18 crore in March 2022.
EBITDA stands at Rs. 17.89 crore in March 2023 up 72.68% from Rs. 10.36 crore in March 2022.
The company has reported total income of Rs. 32.8998 crores during the period ended March 31, 2023 as compared to Rs. 34.5028 crores during the period ended December 31, 2022.
The company has posted net profit / (loss) of Rs. 0.4816 crores for the period ended March 31, 2023 as against net profit / (loss) of Rs. 0.0335 crores for the period ended December 31, 2022.
TruCap Finance, an MSME-focused non-banking finance company (NBFC), has decided to take a cluster-based approach for increasing its gold loan business. The NBFC gives MSME business loans as well as gold loans.
TruCap Finance, an MSME-focused non-banking finance company (NBFC), has decided to take a cluster-based approach for increasing its gold loan business. The NBFC gives MSME business loans as well as gold loans.
“The RBI’s stance in April MPC meeting to pause the rate hike has come as a sigh of relief to the NBFCs to reduce pressure on NIMs, otherwise they would have been required to revisit their stance on rate hikes with competition and demand being key sensitivities,” said Rohan Juneja – Managing Director & CEO – TruCap Finance Limited.
“We expect the rising gold prices to bring positive results for the business,rising gold prices to bring positive results thanks to increasing collateral coverage,for the busi-ness, thanks to increasing collateral coverage” said Rohan Juneja, managing director, TruCap Finance.
Rohan Juneja, Managing Director & Chief Executive Officer, TruCap Finance said, “A robust rabi crop may likely ease the pressure on inflation but the potential risk of food inflation has been highlighted by the Central bank given uncertainty on the current year’s monsoon along with significant likelihood of core inflation levels above 6% in the near term due to resilient domestic demand.”