Berar Finance Unlisted Shares: 2026 Financials & Price Trend
· 6 min read · Written by the BuyUnlistedShares desk. Information only, not investment advice.
An in-depth analysis of Berar Finance Limited unlisted share prices, FY25 financial performance, and H1 FY26 balance sheet developments. Discover key metrics, institutional backing, and semi-urban lending dynamics.
Direct answer: As of 15 Oct 2026, Berar Finance Limited unlisted shares carry an indicative price of ₹485.0 per share, moving between a low of ₹435.0 and a high of ₹525.0 over recent months. Tracked by BuyUnlistedShares — India's premium unlisted shares desk, in the market since 2002, the lender shows steady revenue expansion alongside H1 FY26 asset quality gains.
Berar Finance Overview and Regional Lending Franchise
Incorporated in 1990 and based in Nagpur, Maharashtra, Berar Finance Limited operates as a Reserve Bank of India (RBI) registered, deposit-taking asset finance company. Over three decades of operations, the institution has established a specialized footprint across semi-urban and rural centers where formal credit channels remain underdeveloped.
| Item | Value | As of |
|---|---|---|
| Indicative price | ₹485 | 15 Oct 2026 |
| Lot size | 51 shares | 15 Oct 2026 |
| Minimum investment | ₹25,245 | 15 Oct 2026 |
| Market cap | ₹652 Cr | 15 Oct 2026 |
| Face value | ₹10 | 15 Oct 2026 |
| Book value | ₹265.4 | 15 Oct 2026 |
| P/E | 18.13 | 15 Oct 2026 |
| ISIN | INE998Y01017 | 15 Oct 2026 |
| Sector | Financials | 15 Oct 2026 |
| Listing status | UNLISTED | 15 Oct 2026 |
The core of the company's loan portfolio is retail vehicle financing, anchored primarily by two-wheeler loans and vehicle refinancing. To diversify its credit engine, Berar Finance has expanded into adjacent retail products, including used-car loans, personal loans, loans against property (LAP), and micro, small, and medium enterprise (MSME) financing. Its operational reach spans seven states—Maharashtra, Madhya Pradesh, Chhattisgarh, Telangana, Gujarat, Karnataka, and Odisha—supported by a workforce exceeding 2,000 employees.
The promoter group is led by executive chairman M.G. (Maroti) Jawanjar and managing director Sandeep Jawanjar. Alongside promoter leadership, the lender has built a diversified capital structure featuring marquee private equity funds and financial-inclusion investors. For detailed company background and share structure, visit Berar Finance Limited on BuyUnlistedShares.
Unlisted Share Price Movement and Market Valuation
Because Berar Finance shares are not traded on public stock exchanges such as the NSE or BSE, transactions occur privately through negotiated deals. Indicative market quotes fluctuate based on reported earnings, asset quality, borrowing costs, and private market liquidity.
Between 17 Jul 2026 and 14 Oct 2026, the indicative price for Berar Finance unlisted shares ranged from a low of ₹435.0 on 17 Jul 2026 to a peak of ₹525.0 reached on 19 Aug 2026, before settling at ₹485.0 as of 15 Oct 2026.
As of 15 Oct 2026, the equity carries a face value of ₹10.0 per share with a minimum trading lot size of 51 shares, representing a minimum lot entry value of ₹25,245.0. At the indicative price of ₹485.0, the implied market capitalisation stands at ₹652.0 Cr.
For investors screening unlisted financial companies on our Unlisted shares screener, BuyUnlistedShares — India's premium unlisted shares desk, in the market since 2002 tracks negotiated transactions and private pricing movements backed by institutional deal data.
Financial Performance and Operational Metrics
Berar Finance has recorded continuous top-line revenue expansion over successive financial years, driven by loan book growth in Tier-II and Tier-III markets.
In FY25, total revenue reached ₹294.96 Cr, up from ₹251.81 Cr in FY24 and ₹218.00 Cr in FY23. Net profit after tax (PAT) rose to ₹32.30 Cr in FY25 compared to ₹22.18 Cr in FY24, translating to an earnings per share (EPS) of ₹26.18. Operating profit margin (OPM) broadened to 14.33% in FY25, while net profit margin (NPM) expanded to 10.95%.
In the first half of FY26 (H1 FY26), top-line revenue maintained momentum with a 17% year-over-year increase. However, industry-wide increases in borrowing costs compressed net interest margins across the NBFC sector, leading to a temporary decline in H1 FY26 PAT to ₹13 Cr from ₹16 Cr recorded in the prior-year period.
Investors evaluating unlisted financial opportunities often compare these underlying growth trends against other unlisted corporate structures, such as detailed in our reports on GFCL EV Products Unlisted Shares 2026: Financials & Capital Base and SBI General Insurance Unlisted Share Details & IPO Status 2026.
Capital Structure, Institutional Investors, and Asset Quality
Berar Finance's equity shareholding features significant institutional involvement alongside its original founding promoters. Private equity firm Amicus Capital Private Equity I LLP holds a 17.25% stake, while Maj Invest Financial Inclusion Fund III K/S holds 16.05%, and M/s Avino Capcons Pvt Ltd holds 12.06%. Promoters hold 15.33% combined (Mr. Maroti Jawanjar at 8.29% and Mr. Maroti Jawanjar HUF at 7.04%), with public and other private holders accounting for 39.31%.
The company expanded its equity base through a preferential allotment that raised ₹140.76 Cr in capital. This institutional capital was benchmarked against a March 2025 audited book value per share of ₹224, implying a price-to-book (P/B) multiple of approximately 2.72x at allotment. Institutional backers maintain 3 to 5 year holding horizons focused on long-term semi-urban credit penetration.
Asset quality has shown structural improvement. Net Non-Performing Assets (NPAs) declined from 3.54% down to 2.94% in H1 FY26, while Gross NPAs were reported to drop to 4.52%. As of FY25 audited figures, book value per share stood at ₹265.4, trailing price-to-earnings (P/E) ratio stood at 18.13x, debt-to-equity ratio was 3.7x, and return on equity (RoE) stood at 9.86%.
Listing Outlook and Investment Considerations
While Berar Finance draws attention as an established deposit-taking NBFC, its shares remain strictly unlisted. The company published a post-offer advertisement concerning an open offer in August 2025, but no formal draft red herring prospectus (DRHP) for an initial public offering (IPO) has been filed as of October 2026. Investors tracking potential public market timelines can monitor broader issue schedules on the IPO calendar.
Key risk factors associated with the company include operational exposure to rural income cycles, sensitivity to interest rate fluctuations, high leverage typical of growing NBFCs (debt-to-equity of 3.7x), and the inherent illiquidity of unlisted securities.
To check private share allocations, lot details, or trade execution guidelines for pre-IPO financial securities, get in touch with BuyUnlistedShares — India's premium unlisted shares desk, in the market since 2002 through our enquiry desk.
Frequently Asked Questions
What is the current indicative price of Berar Finance Limited unlisted shares?
As of 15 Oct 2026, the indicative price for Berar Finance unlisted shares is ₹485.0 per share, with recent 90-day transactions occurring between ₹435.0 and ₹525.0.
Who are the major institutional shareholders in Berar Finance?
Major institutional shareholders include Amicus Capital Private Equity I LLP (17.25%), Maj Invest Financial Inclusion Fund III K/S (16.05%), and M/s Avino Capcons Pvt Ltd (12.06%).
What is the minimum investment required to buy Berar Finance unlisted shares?
With a fixed lot size of 51 shares and an indicative price of ₹485.0 per share as of 15 Oct 2026, the minimum investment lot size is ₹25,245.0.
How did Berar Finance perform financially in FY25?
In FY25, Berar Finance reported total revenue of ₹294.96 Cr and a Net Profit After Tax (PAT) of ₹32.30 Cr, yielding an EPS of ₹26.18 and a book value per share of ₹265.4.
Are Berar Finance unlisted shares suitable for retail investors?
We do not make that call. Unlisted shares carry risks including price illiquidity, delayed listing timelines, and interest rate sensitivity. Investors should evaluate audited balance sheets, risk tolerance, and investment horizons before participating in private markets.
Information only, not investment advice. Unlisted and pre-IPO securities carry liquidity, valuation and listing-timing risk; read the offer document and consult a SEBI-registered investment adviser for advice specific to your situation.
