Arman Financial Services Ltd. (AFSL)

Arman Financial Services Limited (ASFL), true to the meaning of its name (‘Aspiration’ or ‘Wish’), bridges the gap between people’s aspirations, wishes, and reality. A Reserve Bank of India (RBI) registered Non-Banking Finance Company – Asset Finance Company (NBFC-AFC) with rural and semi-rural financing at the center of its business model, Arman provides affordable financing with simple, no-hassle loan products. AFSL and its sister concerns offer two major financial services: Two-wheeler and three-wheeler finance and Group-Based Microfinance, offered by Namra Finance Ltd – a wholly-owned subsidiary of AFSL. Namra Finance is a RBI Registered NBFC-Microfinance Institution (MFI)

By enabling affordable personal mobility via two-wheeler and three-wheeler financing, Arman promises a better life to the middle-class and emerging middle-class, and helps families move up the economic ladder. By offering small ticket income generating loans to bottom of pyramid customers, it offers poor house-hold to increase their income and drastically enhance their livelihood.

With over a decade of lending experience in Western India serving areas and clients where it is not possible for the banks to provide financial services under the current market scenario. This distinctive characteristic of the last mile credit delivery system separates Arman from a bank and/or other NBFCs.


Originally incorporated on November 26, 1992 as Arman Lease & Finance Ltd., the company made its Initial Public. Offering (IPO) on August 21, 1995. It received an overwhelming response for its public issue which was oversubscribed by 22 times. The company is actively traded on the Mumbai stock exchange (BSE: 531179)