Vistaar Finance Forays Into Manufacturing Segment
Vistaar Finance, the Bengaluru-based Non Banking Financial Company (NBFC) with specialisation in the MSME segment, has launched a new product to serve the small vendors of mid-level manufacturing companies in the industrial towns of Bengaluru, Chennai, Pune, Ahmedabad and NCR.
In alignment with the 'Make in India' efforts of the government, the product aims to provide working capital funding to manufacturers and their vendors in competitive pricing and faster turnaround time.
Within three months of the launch of the product, Vistaar Finance has been able to create a portfolio of Rs 20 crore in the product spread across different sectors like food, electrical components, and OEMs, claims the company.
Vistaar has also tied up with Indian e-commerce platform in the B2B segment, mjunction in order to serve its small purchasers on the e-auction platform.
The partnership is designed to augment the services of mjunction to its customers and also provide a healthy mix of portfolio for Vistaar in the MSME segment.
Vistaar Financial Services Pvt Ltd has more than 200 branches and a loan book of Rs 1150 crore. The NBFC was started in the year 2010 with promoters Brahmanand Hegde and Ramakrishna Nishtala.
