PeopleStrong confers Arohan Financial with NCOW Award

KOLKATA, India, May 25, 2021 /PRNewswire/ -- One of the leading NBFC-MFIs, Arohan Financial Services was conferred the New Code of Work Awards 2021 in Large Enterprise Category by PeopleStrong for making a transformative shift to digital culture to further enhance the scalability of its financial inclusion goals.

"Arohan has successfully made the shift from leveraging a multi-platform backend to an integrated backend, thus streamlining the input, flow of, and access to data. The organisation has also transitioned from Cash Collections to Digital Collections and brought more customer-centricity into the business framework. In keeping with Covid-19 protocols, the organisation was quick to make the shift from a high-touch to a no-touch work environment for employees. It also transitioned into a wellness environment for employees, with a focus on enhancing health benefits that offer more security to its workforce," quotes the New Code of Work Awards, 2021 Compendium.

In receipt of this recognition, Managing Director of Arohan Financials, Mr. Manoj Nambiar, stated, "As a part of the Aavishkaar Group, Arohan believes in taking an entrepreneurship-based approach towards development. This stands especially true in these challenging and changing times that we are witnessing towards a New Code of Work, as we encourage and empower our employees through various innovative initiatives, as they continue to serve over 2.21 million clients through financial inclusion." 

On getting recognized with this Award, Head of Human Resources of Arohan financials, Mr. Prashant Rai said, "Getting recognised for the various people-focused approach we undertook in response towards developing a New Code of Work is extremely encouraging and gratifying. It has been our constant endeavour to create an environment of innovation, trust and engagement amongst our most valuable asset - the employees, while leveraging technology to enable the organisation towards future-readiness as we continue to push the barriers chasing problem worth solving. This award is definitely a testimony of our conviction."

Other entities who were recognized at the forum, with other categories of the Awards, were Aditya Birla Capital, Ashok Leyland, Dr. Reddy's Laboratories, Genpact, Hindustan Unilever, Home First Finance, Mondelez, Nestle, MakeMyTrip, Kotak Mahindra, Sony Pictures Network and many more. 

Arohan Financial Services filed a draft red herring prospectus ("DRHP") for its Initial Public Offering with SEBI on Feb 14, 2021 to raise Rs. 850 Cr via Fresh Issue and Offer for Sale of 27,055,893 equity shares by certain selling shareholders. As stated in the DRHP, as on September 30, 2020 it stands to be the most cost efficient amongst East and North East based NBFC-MFIs, had a 0% NNPA ratio over Fiscals 2020, 2019 and 2018, and is amongst the top 10 NBFC MFIs in India.
As on September 30, 2020 Arohan served approximately 2.21 Mn borrowers across 17 states.

About Arohan Financial Services Limited

AROHAN FINANCIAL SERVICES LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to undertake an initial public offering of its Equity Shares and has filed the DRHP with SEBI on February 14, 2021. The DRHP is available on the website of SEBI at www.sebi.gov.in, website of stock exchanges i.e. NSE at www.nseindia.com, BSE at www.bseindia.com and the website of the BRLMs, i.e. Edelweiss Financial Services Limited, ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited and SBI Capital Markets Limited at www.edelweissfin.com, www.icicisecurities.com, www.nomuraholdings.com/company/group/asia/india/index.html and www.sbicaps.com, respectively. Any potential investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see Risk Factors section of the Red Herring Prospectus, when available. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision. These materials are not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia).These materials are not an offer of securities for sale into the United States, Canada or Japan. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.