Ujjivan
is the only MFI in India to start operations without
any grants or donations. Our Paid-up capital including
premium stands at Rs. 1,025
million as of March 2009.
The
Authorized Capital of the company is Rs. 400 Million
divided into 4,000,000 Equity Shares of Rs. 100 each.
In
the initial round, the Company had an infusion of domestic
funding with a share capital of Rs. 28.01 Million. The
single largest domestic investor
was Bellwether Microfinance Fund ( www.BellwetherFund.com).
The other subscribers were prominent
individuals in the world of financial services and information
technology.
The
second round of capital infusion under the Foreign Direct
Investment automatic route witnessed Mauritius Unitus
Corporation ( www.unitus.com) & Michael & Susan
Dell Foundation (www.msdf.org) investing as much as
37.5% in the Company. This was
MSDF’s first microfinance equity investment worldwide.
The balance FDI was invested
by prominent NRIs from U.A.E., Bahrain, U.K. and Singapore.
Ujjivan
completed the third round of capital infusion in October
2007 to the tune of INR 91 Million. This capital infusion
has enabled capacity building and desired capital support.
Ujjivan
recently completed the fourth round of capital infusion.
Originally planned for Rs.75 Crores, the equity round
was over-subscribed and increased to Rs. 94 Crores.
The new investors in this round included Sequoia Capital,
Lok Capital, Unitus Equity Fund II and India Financial
Inclusion Fund. With this, Ujjivan holds the distinction
of being the fourth highest capitalized microfinance
institution in India. The capital will be used for the
Company’s major expansion
plans for the next one year and to meet the enhanced
capital adequacy norms set by
the Reserve Bank of India. Grameen Capital India was
the exclusive Equity Advisor for this transaction.
The
Company has put in place an Employee Stock Option Plan
for all employees and directors, which is expected to
attract and retain talent as well as reduce attrition.
We
plan an IPO after three years of profitable operations.
Ujjivan
has ambitious growth plans to cover one million customers
over the next 15 months with its presence all over
India (Regional Offices in Bangalore, Kolkatta, Delhi
and Pune.
Over the next three years, Ujjivan also expects to
build an excellent capital base and balance its debt/equity
structure. Apart from term
lending from banks and/or financial institutions and
organization that promote microfinance,
it is also planning for alternative sourcing of capital
through portfolio sale, securitisation, quasi capital
in the form of subordinated debt , non convertible
debentures & other debt instruments. Ujjivan will
also seek funding from specialized
institutions for specific loan products dealing in
targeted areas, such as housing or
higher education, on a long term basis.
To view our financial statements and reports, please
click on the following:
Ujjivan
Annual Report and Audited Financial Statement - March
31, 2010
Also includes Social Performance Management: Pilot Impact Evaluation Study 2009
Ujjivan
Annual Report and Audited Financial Statement - March
31, 2009
Ujjivan
Annual Report and Audited Financial Statement - March
31, 2008
Ujjivan
Annual Report and Audited Financial Statement - March
31, 2007
Audited
Financial Statement - March 31, 2006
Summary
of Audited Financials and Profit & Loss Account
- March 31, 2005
