SMILE Microfinance Limited Unlisted Share

S.M.I.L.E. Microfinance Limited (SMFL) was established in 2004 with the aim of providing credit services to the urban and rural poor in Tamil Nadu. Initially registered as a non-deposit taking NBFC in 2006, it later acquired a Microfinance Institution (MFI) license in May 2015. SMFL operates primarily through the joint liability group (JLG) model, offering financial support to economically-backward women. The company received significant equity infusion from DWM Investments (Cyprus) Limited, which invested ₹25 crores each in FY2010 and FY2011 and currently holds about 66.6% of the company. The promoter group owns 18.6%, while former and current women members collectively hold 13.3%. Tamil Nadu forms the core operational base for SMFL, with Chennai and Madurai alone contributing to 28% of the total Assets Under Management (AUM) as of March 31, 2020