Wish this thread were more active.
I have been looking into some other companies that function in the same space - MSME lending. Here’s a screenshot from an Avendus report from May this year.
While the figures from the screenshot are dated now (we are above 4300cr AUM), think it will be worthwhile to track these and see how we compare. Oxyzo and Lendingkart are unicorns that plan on listing in 12-18 months. Lendingkart also happens to be one of Ugro’s digital lending partners. And Ugro are one of Oxyzo’s debt partners.
While there are fundamental differences in the businesses - proportion of on-book: off-book, secured:unsecured, physical presence (number of branches + opex that goes along with it), etc - I think the listing of these businesses will definitely throw further spotlight on Ugro (if the market hasn’t caught up already) and could prove to be a rerating trigger. Inviting thoughts and analyses.
Oxyzo:
Lendingkart:
But for this to happen, we definitely need management to walk the talk and focus on profitability. No better time to plug this epic meme from @Chins (follow him on Twitter for more such gold).
In other news, ONDC went live with a beta launch recently:
https://twitter.com/Mugdha_Variyar/status/1575726709420089344
Like PSBs going live on AA earlier, these are all small steps towards the digitization of finance that will help enable access to credit. Ugro has been one of the pioneers in forseeing this and positioning themselves accordingly, evidenced by the fact that they were the first lender onboard GeM Sahay. Attaching a slide from their recent investor presentation.
Disc: Invested and biased
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