The Ledger, every show

“I think fintechs are more focusing on larger cities and tiers and still take a lot of time to penetrate deeper.”

“Between 2015 and 2022 we grew by about 50 x so you spoke of three x when we started but we actually grew by about 50 x we had a 130 book 130 crores book in 2015 and you know we just ended with about 6200 crores of book as of december”

“The market is large because I think in India, you know, banks still cater to, I would say, largely the top 20% for various reasons. It could be the diverse geography. It could be the unorganized nature or the spread of people that were there, or it could be th…”

“Because of being asset light, because of being very, very close to the ground, most of our branches break even in less than six to nine months.”

“But I think the way the regulations will evolve over a period of time, you may not have 10,000, you may have 2000 NBFCs, but pretty much serious in trying to penetrate and create an issue of what they want to do.”

“So we did an IPO. So in November we went out with an IPO. So that was roughly a valuation of a little less than about two billion dollars.”

“We price instead of about 25% post the IPO. So we are well over two billion dollars at this point of time.”

“We had our first round in 2014. With Matrix. That was just a three million dollar round, and you'll be surprised to know that till the IPO, Matrix has not sold a single share. So, they sort of continued to hold to all the shares that they did in 2014, 15.”

“Right from two those and five, two those and six onwards, we have never been loss making every year, whatever, you know, we have invested, we have not been dividend paying. So that has got completely reinvested into the company.”

“We are the oldest unicorn in the country, right? I don't know what is the youngest unicorn and oldest unicorn. We are a 38 year old unicorn.”

“Pretty much now if you see any new licenses that RBI grants, it's never for a deposit taking license. So most of the people who still hold a deposit taking license are all older NBFCs which got it at the earlier regime.”

“Even today, I would say about 93% of our book is in Southern part of India, but we started expanding slowly into the central Indian geographies.”

“10,000 at least.”

“The 10,000 number that I told you must have been about 13,000 plus three, four years back. So, there are consciously, 3004 thousand NBFC's license which have got cancelled over a period of time.”