Belstar Investment and Finance Private Limited (Belstar) is a Non-Banking Finance Company (NBFC) and a subsidiary of Muthoot Finance Limited. Guided by an expert Board member team and an able leadership, the company has successfully transitioned into a profitable and high-potential Microfinance Institution (MFI) with low credit risk. Belstar’s business model is unique as it pursues a double bottom line focusing on both financial performance as well as social performance with the assistance of the Hand in Hand India in alleviating poverty coupled with community development.
The Company’s growth was further accelerated after the strategic equity investment by Muthoot Finance Limited, helping it secure an “A” rating. This has helped Belstar focus on diversification of the funding profile, expansion in operational states and making inroads into newer geographies.
Belstar was incorporated in January 1988 at Bangalore and being an NBFC, was registered with the RBI in March 2001.The Company has been reclassified as an “NBFC-MFI” by RBI effective 11 th December 2013. The Company is now a Non-Deposit taking Systemically Important NBFC-MFI. During FY 2017-18, the Company became a deemed public limited company status after it became the subsidiary of Muthoot Finance Ltd.
Belstar was acquired by Hand in Hand group in September 2008 to provide scalable microfinance services to entrepreneurs nurtured by the Hand in Hand India (HIH) Self Help Group (SHG) program. It aims to provide financial assistance to more than 0.3 million borrowers within the next 5 years and intends to use its synergy with the activities of the Hand in Hand group to create 5 million jobs by end of 2020. BIFPL started its micro lending operations in a small way in one district in Tamil Nadu and two districts in Karnataka in April 2009.
In the first five years of its operations post acquisition by HIH, BIFPL primarily relied on taking over the existing groups formed by Hand in Hand India (HIH). BIFPL now follows both the SHG as well as the JLG model of lending. Muthoot Finance Limited a listed company and the largest gold financing Company has made a strategic Equity Investment of Rs 40 Crore in the Company in the month of July 2016 and also acquired all the stake from the foreign Investors.
To be a socially responsible microfinance institution that actively contributes to the financial inclusion process by adhering to responsible financing practices
To financially empower women and help them build and manage sustainable livelihoods
To provide financial inclusion to micro entrepreneurs
Integrity, Professionalism, Accountability, Transparency,Team Work
MFL the flagship company of THE MUTHOOT GROUP having over 129 years of business legacy, is India's largest gold loan Company. MFL has AUM of over Rs.24600 Cr, PAT of Rs.818 Cr and Net worth of Rs.5622 Cr as on 31-03-2016. The group's presence is also in other sectors like Hospitality, Travel & Tourism, Plantation, Home & Vehicle finance, Life/Health/General Insurance, Forex, Money transfer etc. making it a diversified business brand. MFL was ranked as India's Most Trusted Finance Diversified Brand by the Brand Trust Report India study 2016. They were also recently conferred the "Express Uptime Champion award 2016" by The Express Group for Muthoot Group CBS and IT Infrastructure.
Hand in Hand Consulting Services Private Ltd. is the consulting arm of Hand in Hand India. It undertakes consultancy and partnership projects in the field of social development, specifically microfinance, financial inclusion, and livelihoods. It has successfully implemented projects in South Africa, Afghanistan, Brazil, Sri Lanka, Kenya, Cambodia, and Myanmar.
The apex body of all Mutual Benefit Trusts, SFIT has pooled in resources from all MBTs and invested 60.97% in the initial equity of Belstar. SFIT has adequate Corporate Governance and an independent Board of Trustees with representation from SHGs
Maj Invest is a Danish asset management company with USD 11.0 billion under management, of which USD 1.0 billion are private equity assets (private equity commitments of a total of USD 2 billion). Maj Invest is a spin-off from a Danish pension fund, and was founded in 2005 as an independent asset manager. Maj Invest has been managing international private equity funds since 2009. HQ in Copenhagen with representation in Lima, London, Ho Chi Minh City, Jakarta and Mumbai. More than 100 large institutional clients and 38,000 private investors. Maj Invest Mutual Fund was launched in 2005 and is one of the highest rated in Europe by Morningstar TM ratings. Approximately 100 highly skilled specialists in four areas(a). International Private Equity (b)Asset Management (c)Danish private Equity and (d) Private saving bank
Maj Invest Financial Inclusion strategy focuses on investing directly in the top tier financial inclusion institutions providing financial products and services to client group below the middle class in Latin America, Asia and Africa. Currently there are two funds in operational stage:
The third fund under the same strategy has been established and has entered fund raising stage with expected first closing at March 2019
In June 2015 Maj Invest established the Maj Invest Financial Inclusion Fund II K/S and has since 2010 managed the fund Danish Microfinance Partners K/S in cooperation with the Danish pension funds PKA and PBU. The Investment Fund for Developing Countries (IFU) functions as lead consultant besides being an investor.
Asian Building, Ground Floor 17. R. Kamani Marg Ballard Estate Mumbai Maharashtra – 400 001 India Phone: +91 022 40807000 Fax: +91 022 66311776 Email: email@example.com
The IL&FS Financial Centre, Plot C- 22, G Block, Bandra Kurla Complex, Bandra ?(East), Mumbai 400 051 Website: www.vistraitcl.com