Arohan Financial Services
- Unlisted share
- Financial Services
- ISIN INE808K01017
At a glance
Sales
FY26
₹1,545 Cr
−8.7%on FY25What the company earned from its customers in the year.
Profit
FY26
₹122 Cr
+11.5%on FY25What was left after every cost and tax was paid.
Market valuecalculated
₹3,598 Cr
What the whole company would be worth at GrowFast's indicative price.
Net worth
FY26
₹2,158 Cr
What the owners would have left on paper if every debt was repaid.
From the company's published figures; sources are beside each figure further down the page.
Key details
- Company
- Arohan Financial Services
- ISIN
- INE808K01017
- Sector
- Financial Services
- Type of share
- Unlisted equity share
- Indicative price per share
- ₹225.72
- Price last updated
- 12 Oct 2026
- Minimum quantity
- Confirmed by the desk
- How you hold it
- In your own demat account
- Enquiries
- GrowFast desk, on WhatsApp
Indicative prices, illiquid shares. Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
Company
About Arohan Financial Services
Arohan Financial Services Limited is a Kolkata-based NBFC-MFI that gives small income-generating loans, mostly to women borrowers in rural and semi-urban areas, with its business concentrated in eastern India. It has been in microfinance since 2006 and reported assets under management of about ₹6,308 crore at the end of December 2025. It is part of the Aavishkaar Group, whose entities are the promoters, while most of the shares are held by institutional investors such as TIAA, Tano, FMO and Maj Invest.
Written from: sebi.gov.in, arohan.in
Listing status. Not listed. Draft Red Herring Prospectus dated 15 May 2026 filed with SEBI for a fresh issue of up to ₹600 crore and an offer for sale of up to 40,437,529 equity shares. SEBI: Arohan Financial Services Limited abridged prospectus (Draft Red Herring Prospectus dated 15 May 2026)
Financials
Ask for the full annual report.
The figures on this page are the headline numbers. The desk can share the latest annual report and anything published since.
Ask for the financials- Sector
- Financial Services
- ISIN
- INE808K01017
- Registered and corporate office
- Kolkata, West Bengal
- Promoters
- Aavishkaar Venture Management Services Private Limited, Intellectual Capital Advisory Services Private Limited, Vineet Chandra Rai and Swati Rai (Aavishkaar Group)
- Key people
- Chairman and Non-Executive Independent Director: Dinesh Kumar Mittal; Managing Director: Manojkumar N Nambiar; Deputy Chief Executive Officer and Chief Financial Officer: Milind Ramchandra Nare
- Face value per equity share
- ₹10
- Arohan Financial Services Limited audited financial results for the year ended 31 March 2026
- Equity shares outstanding (pre-offer)
- 15,94,12,320 shares
- Corporate Identity Number
- U74140WB1991PLC053189
- Website
- arohan.in
Read from: SEBI: Arohan Financial Services Limited abridged prospectus (Draft Red Herring Prospectus dated 15 May 2026), unless another source is shown on a card.
Key data
What the numbers mean
The ratios buyers look at, each said in plain words.
Price to earnings (P/E)calculated
28.1×
At this price you pay ₹28.1 for every ₹1 of profit the company made in the year.
Price to book (P/B)calculated
1.7×
At this price you pay ₹1.7 for every ₹1 of net worth on the company's books.
Profit margincalculated
7.9%
Out of every ₹100 of sales, ₹7.9 was left as profit.
Return on equitycalculated
5.7%
For every ₹100 of the owners' money, the company made ₹5.7 of profit in the year.
Debt to equitycalculated
2.73×
The company has borrowed ₹2.73 for every ₹1 of its owners' money.
Lenders and finance companies normally borrow far more than other businesses.
- Indicative price
- ₹225.72
- Market valuecalculated
- ₹3,598 Cr
- price × shares
- No. of shares
- 15,94,12,320
- EPS
- ₹8.02
- Book value per share
- ₹132.6
- Face value
- ₹10
Figures marked “calculated” are worked out by GrowFast from its indicative price and the company's published figures for FY2025-26. They move with the price, and they are arithmetic, not a valuation.
Figures in ₹ crore
Financials
Arohan Financial Services Limited. As published in the company's audited reports. GrowFast has not audited them.
Sales, year by year
₹ crore. The darkest bar is the latest year.
FY23 to FY26: ₹1,088 Cr to ₹1,545 Cr.
Profit, year by year
₹ crore, after tax. A bar below the line is a loss.
FY23 to FY26: ₹70.72 Cr to ₹122 Cr.
| Particulars | FY23 | FY24 | FY25 | FY26Latest |
|---|---|---|---|---|
| Revenue from operations | 1,087.53 | 1,628.69 | 1,691.75 | 1,544.88▼9% |
| Other income | n/a | n/a | 3.51 | 6.67▲90% |
| Total income | 1,091 | 1,634.63 | 1,695.26 | 1,551.55▼8% |
| Depreciation and amortization | n/a | n/a | 6.85 | 9.21▲34% |
| Finance costs | n/a | n/a | 631.96 | 524.59▼17% |
| Profit before tax | n/a | n/a | 138.09 | 163.41▲18% |
| Profit after tax | 70.72 | 313.82 | 109.69 | 122.33▲12% |
| Basic earnings per share (₹) | 6.05 | 26.62 | 7.2 | 8.02▲11% |
| Interest income | n/a | n/a | 1,581.18 | 1,415.5▼10% |
Rupees crore unless marked, standalone, standalone (restated). The change shown is the latest year against the year before. Read from: Arohan Financial Services Limited audited financial results for the year ended 31 March 2026, SEBI: Arohan Financial Services Limited abridged prospectus (Draft Red Herring Prospectus dated 15 May 2026).
Credit rating. [ICRA]A (Stable) on long-term bank facilities, NCDs and subordinated debt, reaffirmed 13 January 2026; CARE A-; Stable on long-term instruments, reaffirmed 16 February 2026 (13 January 2026 / 16 February 2026) ICRA rating rationale dated 13 January 2026 (hosted on company website)
Ownership
Shareholding pattern
Who owns the company
As of 15 May 2026
12.1%TIAA (fully diluted)
- Largest holder
- 12.1%
- Top 3 together
- 34.2%
- Holders named
- 13
- TIAA (fully diluted)12.06%
- AG II (fully diluted)11.63%
- Tano (fully diluted)10.47%
- Intellectual Capital Advisory Services Private Limited (promoter) (fully diluted)10.33%
- FMO (fully diluted)9.87%
- Maj Invest (fully diluted)9.66%
- Total100.00%
Capital history
Fund raise history
| Date and detail | Type | Instrument | Price per share | Amount raised |
|---|---|---|---|---|
| FY2025-265,00,000 equity shares of ₹10 each were allotted to the Arohan ESOP Trust at ₹148.35 per share, about ₹7.42 crore in all. | Allotment to ESOP trust | Equity shares | ₹148.35 | ₹7 Cr |
Read from: Arohan Financial Services Limited audited financial results for the year ended 31 March 2026
Leadership
Management
Dinesh Kumar Mittal
Chairman and Non-Executive Independent Director
Manojkumar N Nambiar
Managing Director
Milind Ramchandra Nare
Deputy Chief Executive Officer and Chief Financial Officer
Vineet Chandra Rai
Vice Chairman and Promoter Nominee Director
Anurag Agrawal
Promoter Nominee Director
Anirudh Singh Thakur
Company Secretary and Chief Compliance Officer
Ulhas S Deshpande
Non-Executive Independent Director
Jose J Kattoor
Non-Executive Independent Director
Corporate calendar
Events
- 21 May 2026Board outcomeBoard approved audited results for FY2025-26Open
- 15 May 2026DRHP filingBoard approved the IPO and the Draft Red Herring Prospectus was filed with SEBI (fresh issue up to ₹600 crore plus offer for sale)Open
- 16 Feb 2026Rating actionCARE reaffirmed CARE A-; StableOpen
- 13 Jan 2026Rating actionICRA reaffirmed [ICRA]A (Stable)Open
Reports and filings
Annual reports and results
Each link opens the document where its publisher keeps it.
- FY2025-26Annual Report FY 25-26
- FY2025-26ICRA rationale, 13 January 2026
- FY2025-26Audited financial results for the quarter and year ended 31 March 2026
- FY2025-26CARE Ratings press release, 16 February 2026
- FY2024-25Annual Report FY 24-25
- FY2024-25Arohan Financial Services Limited: abridged prospectus (DRHP dated 15 May 2026)
- FY2023-24Annual Report FY 23-24
Before you buy
Six things to check on any unlisted share.
The same list applies to every stock. None of it is advice on this one.
The company's latest financials
Revenue, profit and debt for the last three years, from its audited annual report. Ask the desk for the most recent set.
What the price implies
Compare the price per share with earnings and book value per share, and with listed companies in the same business.
Whether a listing is planned
A company may file for an IPO, delay it or never list. A listing, its timing and its price are never certain.
How you would sell
There is no exchange for these shares. You sell by finding a buyer, which can take time and may be at a lower price.
Lock-in after a listing
Shares bought before an IPO are usually locked in for a period after the company lists. Confirm the current rule before you buy.
Tax on your gains
Unlisted shares are taxed differently from listed ones. Check your position with a tax adviser.
Questions
What buyers ask about this stock.
Not answered here? Ask the desk.
Inquire about Arohan Financial Services on WhatsAppIs the price shown for Arohan Financial Services final?
No. It is an indicative price per share. The desk confirms the price and the quantity available when you inquire, and the confirmed price is the one you deal at.
How do I buy these shares?
Press Inquire. It opens a WhatsApp chat with the desk, with this stock already named. After the price and quantity are agreed, a 10% advance locks the deal. Once your KYC is complete you pay the balance, and the shares are transferred to your demat account.
Do I pay anything on this website?
No. No payment is taken and no order is placed on this site. Payment details are shared by the desk only after the deal is agreed.
What do I need before I can buy?
A demat account in your name and the documents for KYC: your identity and demat account details are verified before any deal, as the regulations require.
Can I sell my Arohan Financial Services shares to GrowFast?
GrowFast buys as well as sells. Press Inquire and tell the desk how many shares you hold; it will come back with what it can offer.
How do I sell Arohan Financial Services shares I already hold?
Tell the desk how many you hold. If a price is agreed, you transfer the shares from your demat account with a delivery instruction to your depository participant (a DIS, or its online equivalent), and payment follows as agreed with the desk.
Is there a lock-in if the company lists?
Shares held before an IPO are generally locked in for a period after the listing under SEBI's rules, which have changed over time. Ask the desk for the rule that applies today before you buy.
Is buying unlisted shares legal in India?
Yes. Shares of an unlisted company can be bought and sold privately and are transferred between demat accounts. They are not traded on a stock exchange, so the protections of an exchange do not apply.
What is the minimum I can buy?
It differs by stock and by what the desk holds at the time. The desk confirms the minimum quantity when you inquire.
What is an ISIN?
The 12-character code that identifies a security. It is how your depository knows exactly which share is being transferred to your demat account.
Why are unlisted shares riskier than listed ones?
Prices are indicative and can change without notice. Unlisted shares are illiquid: you may not be able to sell when you want to, or at the price shown.
Similar stocks
More in Financial Services
- Abans Investment Managers Limited₹2,475.00 · ₹397 Cr
- Berar Finance Limited₹480.15 · ₹697 Cr · P/E 17.6
- BharatPe₹3,11,850.00 · ₹3,588 Cr
- Digvijay Finlease Ltd₹1,579.05 · ₹2,094 Cr
- Fino Paytech Ltd₹83.16 · ₹874 Cr · P/E 24.4
- Fusion Techstack Limited (Formerly known as Indian Commodity Exchange Limited)₹4.70 · ₹251 Cr · P/E 235
Risk disclosure
Prices on this site are indicative, quoted per share, and are not an offer to buy or sell. The price and quantity for any deal are confirmed by GrowFast's desk at the time you deal.
Unlisted, pre-IPO and delisted shares are not traded on a stock exchange. They are illiquid, their prices can move sharply, and you may be unable to sell them when you wish or at all. A company that is expected to list may not do so.
Nothing on this site is investment advice or a promise of returns. Past prices do not predict future prices. Consider your own circumstances, and take independent advice, before you invest.
Inquire opens a WhatsApp chat with GrowFast. No payment is taken and no order is placed on this site.
GrowFast is not affiliated with, sponsored by or endorsed by Arohan Financial Services. Its name and logo belong to their owner and are shown only to identify the company. Figures about it come from published sources and have not been audited by GrowFast. See the Terms and Conditions.