Arohan Financial Services Unlisted Shares
vs. prev. close ₹225
52W High
₹225
52W Low
₹225
Market cap
₹3,576 Cr
IPO stage
No DRHP filed
CIN
U74140WB1991PLC053189
Price History
52W High
₹225
52W Low
₹225
About Arohan Financial Services Unlisted Shares
An established, Aavishkaar-backed NBFC-MFI with a DRHP already on file, showing a rare combination of strong profit growth and sharply improving asset quality, balanced against rising leverage and a revenue mix shift toward loan assignment that's worth watching closely.
Short Version :
Arohan Financial Services Limited (CIN U74140WB1991PLC053189) is a Kolkata-headquartered NBFC-MFI (part of the Aavishkaar Group) providing micro-credit and secondary cross-sell products to financially underserved households and micro-entrepreneurs, operating 1,069 branches across 16 states and serving 1.98 million active customers, 98.39% of them women. FY26 saw total assets grow to Rs8,219.94 crore (FY25: Rs6,885.79 crore), with the gross loan book expanding to Rs7,184.66 crore (FY25: Rs5,934.30 crore, up 21%). Profit after tax rose to Rs122.33 crore (FY25: Rs109.69 crore, up 11.5%), translating to disclosed EPS of Rs8.02 Basic / Rs8.01 Diluted (FY25: Rs7.20 / Rs7.18) on face value Rs10. Closing book value works out to BVPS of Rs141.52 (FY25: Rs132.84) and ROE of 5.67% (FY25: 5.42%) on closing equity of Rs2,157.78 crore (FY25: Rs2,025.13 crore). Asset quality improved sharply during the year, with Gross NPA falling from 2.85% to 1.13% and Net NPA from 0.53% to 0.21%, while capital adequacy remained strong at 27.61% CRAR (FY25: 34.09%). The Company has filed a Draft Red Herring Prospectus with SEBI (dated 15 May 2026) for a possible IPO comprising a fresh issue of up to Rs750 crore and/or an offer for sale.
Why It Trades Where It Does :
Arohan operates in India's microfinance NBFC segment, where investors typically price on portfolio quality, geographic diversification and funding access. The Company's credit ratings (ICRA A, Stable, across bank facilities, NCDs and subordinated debt; CARE A-, Stable, reaffirmed during the year) sit in the investment-grade "A" category, a level of institutional credibility that reflects its Aavishkaar Group lineage and diversified, predominantly rural/semi-urban (73% rural, 11% semi-urban) branch footprint. As with InCred and IKF Finance above, an already-filed DRHP is a meaningful, relatively near-term catalyst for unlisted shareholders, offering a visible path to liquidity that is uncommon among Priveq's typical unlisted universe.
Top Risk :
Revenue declined even as the loan book and profit grew. Total income fell to Rs1,551.55 crore (FY25: Rs1,695.26 crore) despite a 21% larger gross loan book and 11.5% PAT growth, likely reflecting a large increase in loan assignment and securitisation activity during the year; this shift in business mix is worth understanding before assuming revenue growth will track loan growth going forward.
Rising customer complaints. Complaints received jumped from 2,205 to 5,171 year-on-year (up 134%), with complaints pending at year-end rising from 22 to 111 — a trend worth monitoring given the Company's underserved, financially vulnerable customer base.
Leverage increased alongside strong growth. Net debt to equity rose from 2.32x to 2.73x, and CRAR fell from 34.09% to 27.61% (still comfortably above the regulatory minimum, but a meaningful decline in the capital cushion in a single year).
Meaningful fraud volume typical of MFI lending at scale. 2,651 fraud cases were identified in FY26 (cash embezzlement, loans against fictitious documents, and other cases) totaling roughly Rs4.21 crore, with provisions and partial recoveries made; an inherent operational risk of cash-intensive, high-volume microfinance lending.
Director remuneration exceeded the Schedule V/Section 197 limit (Rs383.00 lakh paid vs. a Rs170.57 lakh statutory limit), with shareholder ratification still pending at the forthcoming AGM.
Top Opportunities :
Sharp, broad-based improvement in asset quality. Gross NPA fell from 2.85% to 1.13% and Net NPA from 0.53% to 0.21% even as the book grew substantially — among the better asset-quality trends in the NBFC-MFI sector as described in the Company's own MD&A.
IPO process already underway, with a DRHP filed with SEBI (15 May 2026) for a fresh issue of up to Rs750 crore and/or an OFS, following shareholder approval of the IPO at an EGM on 25 March 2026 — a credible, relatively visible liquidity catalyst for unlisted holders.
Strong, well-capitalised balance sheet. CRAR of 27.61% remains well above the regulatory minimum even after the year's decline, providing comfortable headroom for continued portfolio growth.
Growing, technology-enabled operating scale. The branch network and active customer base continue to expand (1,069 branches, 1.98 million customers across 318 districts), supported by a proprietary credit scoring model ("Nirnay") and a largely paperless, digitally enabled loan origination and collection process.
Diversified, retail-investor-friendly funding profile. No concentration in a single funding source was flagged, and the Company's access to term loans, NCDs, subordinated debt and securitisation markets, together with reaffirmed investment-grade ratings, supports continued access to funding at reasonable cost.
Disclaimer :
Priveq.in is an informational platform for unlisted and pre-IPO shares, operated by Priveq Investech Private Limited (the named counterparty on transactions). Unlisted shares carry risks including illiquidity, valuation uncertainty, and limited regulatory disclosure. This page is informational only and does not constitute investment advice.
Company Details
Industry
NBFC & Lending
Founded
1991
Headquarters
Kolkata, West-bengal, India
Min Lot Size
1
Face Value
₹10.00
Total Shares
158912300
Regulatory Information
Corporate Identity Number (CIN)
U74140WB1991PLC053189
PAN Number
AAECA6121D
ISIN
INE808K01017
Key Valuation Ratios
Valuation
Market Cap
₹3,575.53 Cr
P/E Ratio
29.23×
P/S Ratio
27.64×
P/B Ratio
1.66×
EV / EBITDA
17.68×
Returns & Per Share
ROE
5.67%
EPS
₹7.70
Book Value / Share
₹135.78
Solvency
Debt / Equity
—
Interest Coverage
—
Company Fundamentals
As of FY2026 Annual · updated 24 Oct 2026Gross Profit
—
EBITDA
₹172.62 Cr
Revenue Growth
17.01%
Profit Margin
94.55%
Performance Trends
4 annual periods · derived from filed statements
Revenue
₹ Cr
Net Profit
₹ Cr · losses in red
Earnings Per Share
₹ per share
Return on Equity
ROE %
Return on Capital Employed
ROCE %
EBITDA Margin
133.42%
Financial Statements
| Line item | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|
| Total Income | ||||
| Revenue from operationsDisclosed | 138.48₹ Crore | 211.01₹ Crore | 110.57₹ Crore | 129.38₹ Crore |
| Other incomeDisclosed | 21.54₹ Crore | 43.46₹ Crore | 3.51₹ Crore | 6.67₹ Crore |
| Total IncomeDerived | 1,090.99₹ Crore | 1,634.63₹ Crore | 1,695.26₹ Crore | 1,551.55₹ Crore |
| Expenses | ||||
| Employee benefits expenseDisclosed | 246.15₹ Crore | 324.72₹ Crore | 389.2₹ Crore | 396.72₹ Crore |
| Depreciation and amortization expenseDisclosed | 4.76₹ Crore | 5.68₹ Crore | 6.85₹ Crore | 9.21₹ Crore |
| Operating expensesDisclosed | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore |
| Other expensesDisclosed | 88.32₹ Crore | 120.8₹ Crore | 131.65₹ Crore | 154.25₹ Crore |
| Total ExpensesDerived | 1,001.04₹ Crore | 1,222.19₹ Crore | 1,557.17₹ Crore | 1,388.14₹ Crore |
| Profit | ||||
| Exceptional itemsDisclosed | 0₹ Crore | 0₹ Crore | 0₹ Crore | 0₹ Crore |
| Profit before taxDerived | 89.95₹ Crore | 412.44₹ Crore | 138.09₹ Crore | 163.41₹ Crore |
| Tax expenseDisclosed | 19.24₹ Crore | 98.61₹ Crore | 28.4₹ Crore | 41.08₹ Crore |
| Profit After TaxDerived | 70.71₹ Crore | 313.83₹ Crore | 109.69₹ Crore | 122.33₹ Crore |
| Total Income | ||||
| Interest earnedDisclosed | 930.97₹ Crore | 1,380.16₹ Crore | 1,581.18₹ Crore | 1,415.5₹ Crore |
| Expenses | ||||
| Interest expendedDisclosed | 468.64₹ Crore | 592.23₹ Crore | 631.96₹ Crore | 524.59₹ Crore |
| Total Income | ||||
| Net Interest IncomeDerived | 462.33₹ Crore | 787.93₹ Crore | 949.22₹ Crore | 890.91₹ Crore |
| Expenses | ||||
| Provisions and contingenciesDisclosed | 193.17₹ Crore | 178.76₹ Crore | 397.51₹ Crore | 303.37₹ Crore |
| Asset Quality | ||||
| Gross NPADisclosed | 2.8₹ Crore | 1.64₹ Crore | 2.77₹ Crore | 1.07₹ Crore |
| Net NPADisclosed | 21₹ Lakh | 0₹ Crore | 47₹ Lakh | 18₹ Lakh |
Documents Library
Access all financial reports and filings
Annual Report
Quarterly Report
9MFY26 Results of Arohan Financial Services others The consolidated financial results for the quarter ending Dec 31, 2025 (Q3)
9MFY26 Results of Arohan Financial Services others The consolidated financial results for the quarter ending Dec 31, 2025 (Q3)
9MFY26 Results of Arohan Financial Services others The consolidated financial results for the quarter ending Dec 31, 2025 (Q3)
9MFY26 Results of Arohan Financial Services others The consolidated financial results for the quarter ending Dec 31, 2025 (Q3)
Q4FY2025 Results of Arohan Financial others The consolidated financial results for the quarter and year ending Mar 31, 2025 (Q4)
Q4FY2025 Results of Arohan Financial others The consolidated financial results for the quarter and year ending Mar 31, 2025 (Q4)
Q4FY2025 Results of Arohan Financial others The consolidated financial results for the quarter and year ending Mar 31, 2025 (Q4)
Q4FY2025 Results of Arohan Financial others The consolidated financial results for the quarter and year ending Mar 31, 2025 (Q4)
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Current Price
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About Arohan Financial Services Unlisted Shares unlisted shares
Indicative · updated dailyArohan Financial Services unlisted share price today
Arohan Financial Services unlisted share price today is ₹225 as of 24 October 2026.
Arohan Financial Services Unlisted Shares — frequently asked questions
- What is the grey market price for Arohan Financial Services?
No IPO is currently announced for Arohan Financial Services, so no grey market exists; the price above reflects Priveq's own desk valuation.
- Has Arohan Financial Services filed for an IPO, and when might it list?
Arohan Financial Services has not filed a draft red herring prospectus, so no IPO is currently announced and no listing date has been set.
- How does Arohan Financial Services compare to its listed peers?
There is no closely comparable listed company for Arohan Financial Services in India today.
- Is Arohan Financial Services on the SME or Mainboard IPO track?
Arohan Financial Services has not filed a draft red herring prospectus, so no IPO track is set yet.
- What is Arohan Financial Services's CIN and registered office?
Arohan Financial Services's Corporate Identity Number is U74140WB1991PLC053189, registered at Kolkata, West-bengal, India.
- What is Arohan Financial Services's market capitalisation?
Arohan Financial Services's market capitalisation is approximately ₹3,576 crore, based on its current unlisted share price.
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Buying, selling and holding unlisted shares
Applies to every company on Priveq- How do I buy Arohan Financial Services unlisted shares?
Priveq Investech Private Limited is the named counterparty on every transaction. To buy Arohan Financial Services unlisted shares: complete KYC once (PAN, Aadhaar, bank details, and demat account information — SEBI-compliant, typically approved within 24 hours), then submit your order through your Priveq dashboard specifying quantity. Our team confirms price and payment details with you directly. Once payment is confirmed, Arohan Financial Services shares are transferred off-market straight to your demat account, with no pooling and no middlemen.
- How do I sell Arohan Financial Services unlisted shares?
Submit an Express Sell Interest for Arohan Financial Services through your Priveq dashboard, specifying quantity, the same way a buy order is placed. Priveq quotes you a bid price, which may differ from the live Buy price shown to buyers, since unlisted-share pricing works on a bid-ask basis rather than a single quote. Once you accept, you'll need to provide your Client Master List (CML), a cancelled cheque or bank details, and PAN. If you hold shares with CDSL, transfer can also be completed digitally via CDSL Easiest. You transfer Arohan Financial Services shares to Priveq first, and payment follows once the transfer is confirmed received, typically the same day, T+1, or occasionally T+2, communicated to you directly. For sizeable transactions worth crores of rupees, an escrow arrangement can be used instead, at the sole consent of both parties.
- What is the minimum investment for Arohan Financial Services unlisted shares?
Minimum investment varies by company and is shown as the Min Investment figure on this page. Arohan Financial Services's minimum is ₹225.
- Is there a maximum investment limit?
There's no fixed maximum investment limit for Arohan Financial Services unlisted shares. For sizeable transactions worth crores of rupees, an escrow arrangement can be used at the sole consent of both parties, the same mechanism available on the sell side.
- Is buying Arohan Financial Services unlisted shares legal in India?
Yes. Buying and selling unlisted shares in India is legal and is subject to relevant SEBI regulations, including the mandatory lock-in period after listing, stamp duty, and depository participant charges on each transaction. Priveq's own KYC process is built to be SEBI-compliant.
- What is the lock-in period for Arohan Financial Services unlisted shares?
Arohan Financial Services has not filed a DRHP yet, so no listing date or lock-in period applies at this stage. Once an IPO is filed, this answer updates to reflect the applicable SME or Mainboard lock-in.
- What happens if Arohan Financial Services's IPO is delayed or withdrawn?
If an IPO is delayed, shares remain unlisted and continue to trade on the desk at Priveq's indicative price, with no lock-in in effect until an actual listing happens. If a company formally withdraws its DRHP, the same applies: shares stay unlisted, with no lock-in period until and unless a fresh IPO process begins.
- How are capital gains on Arohan Financial Services unlisted shares taxed?
If you sell unlisted shares, including Arohan Financial Services, within 24 months of purchase, the gain is taxed as short-term capital gain at your applicable income tax slab rate. Beyond 24 months, it is taxed as long-term capital gain at 12.5 percent, without indexation benefit, under the rules effective from 23 July 2024. If Arohan Financial Services lists and you sell after listing, the applicable tax treatment shifts to listed-security rates, with the holding period still measured from your original unlisted purchase date. This is general information, not tax advice; investors should confirm their specific position with a tax advisor.
- Can NRIs invest in Arohan Financial Services unlisted shares?
Yes, on a non-repatriable basis. NRIs can invest using funds from an NRO account; sale proceeds stay within India unless repatriated separately under RBI's own limits. Priveq does not currently support repatriable investment (NRE/FCNR-funded), which would require the investee company to file additional RBI paperwork as foreign direct investment.
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- How does Priveq determine the desk price for Arohan Financial Services?
Priveq's desk price reflects several inputs together, not a single formula: the seller's ask price at the time, current demand and supply on the platform for Arohan Financial Services specifically, broader sentiment in the unlisted and pre-IPO market, how Arohan Financial Services's sector and listed peers are trading, the company's own recent financial performance and IPO-stage developments, and recent transaction history where deals have actually closed.
Because unlisted shares trade over the counter rather than on an exchange, this price is indicative, not a continuously live quoted market price, and the actual deal price is confirmed with you directly before a transaction closes.
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You receive an email acknowledging and confirming your order, along with a deal note or invoice recording the transaction details.
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