ASA International Group (ASAI): Wind-down of India operations

This situation live

ASAI ASA International Group

£243m · 248.0p · −4% since the first step

29 Oct 2026 · Substantially complete; RBI licence surrender approved · +0% since This is all consistent with the Group's strategic decision to remove its exposure to India, which is targeted to be finalised by the end of 2026

Disposal of a part (break-up)

Wind-down of India operations

Substantially complete; RBI licence surrender approved

DEC31 Next: Transfer out remaining 16 BC branches; finalise India exit in 62 days

Every step · 1

29 Oct 2026 Substantially complete; RBI licence surrender approved – This is all consistent with the Group's strategic decision to remove its exposure to India, which is targeted to be finalised by the end of 2026 ↗

What is happening

ASA International Group: Wind-down of India operations – Substantially complete; RBI licence surrender approved. ['Substantially complete; RBI licence surrender approved']

In short: The Group is removing its exposure to India. By Q2 2026 India had 10k clients and 25 branches. In Q3 the operating branch network fell to zero and Gross OLP to USD 3.4m. The RBI approved the NBFC-MFI licence surrender on 31 August 2026. Exit is targeted for the end of 2026.
Announced: 29 Oct 2026 · Substantially complete; RBI licence surrender approved
India Gross OLP: USD 3.4m at 30 September 2026, from USD 4.3m at 30 June 2026
India clients: 9k at 30 September 2026, from 10k at 30 June 2026
Licence: RBI approved voluntary surrender of NBFC-MFI licence on 31 August 2026
Remaining branches: 16 BC branches expected to be transferred out by end of October 2026
Target: Exposure removal finalised by end of 2026

What comes next

Transfer out remaining 16 BC branches; finalise India exit (31 Dec 2026).

Briefing Pro

New to ASA International Group? Get up to speed in 2 minutes.

What it does, how it got here, what management promised and delivered – written from its own announcements.

Get the ASAI briefing →

From the company's own announcements. Not investment advice.

Also at ASA International Group 0 open

Disposal of a part (break-up)India deconsolidation / ASA India sale – Run-off nearly complete; branches now zero · closed Insider conviction1 director buying – £929k in 7 buys · closed Upgrade / downgrade cycleProfit upgrade – guidance raised · closed Insider conviction1 director buying – £50k in 2 buys · closed ASA International Group – company page →