Belstar Microfinance Limited was incorporated as Belstar Investment and Finance Private Limited', pursuant to a Certificate of Incorporation dated January 11, 1988, issued by the Registrar of Companies, Karnataka at Bangalore. The Company name was changed from Belstar Investment and Finance Private Limited' to Belstar Microfinance Private Limited' pursuant to change of name on October 3, 2019. Subsequently, Company converted from a Private Company to a Public Company, and a fresh Certificate of Incorporation upon conversion to Public Limited was issued by the RoC on January 10, 2020.

Belstar Microfinance Limited is the ninth-largest Non-Banking Finance Company - Micro Finance Institution (NBFC-MFI) in India in terms of Gross Loan Portfolio as of December 31, 2023 and a socially responsible microfinance institution, driving financial inclusion across the country by furthering entrepreneurship and economic empowerment of women through provision of loans in rural and semi-urban regions. The Company was established in 1988 and acquired by the Promoter Dr. Kalpanaa Sankar in 2008. It was reclassified as NBFC-MFI by the RBI in 2011.

To cater to customer's needs, the Company offer loan products, such as micro enterprise, small enterprise, consumer goods, festival, education and emergency loans. It is one of the few NBFC-MFIs that focus on lending model of self help group (SHG) model (representing 56.94% of Gross Loan Portfolio as of December 31, 2023, as the SHG model encourages generally better financial and credit discipline in the customers.

Apart from this, Company is one of the top 10 NBFC-MFI players with a relatively strong credit rating of 'AA' and a stable outlook from CRISIL. It has a strong parentage through Muthoot Finance Limited, being their Listed Corporate Promoter and the holding company, who provides with business and capital support to scale up Company operation. It is further supported by marquee private equity investors, namely Maj Invest and Affirma Capital. As part of business strategy, the Company also has partnered with insurance service providers such as Kotak Life Insurance and Pramerica Life Insurance, and with credit bureaus such as CIBIL, Equifax, Experian and CRIF. It also implemented a branch-based collection method, where borrowers visit their selected branch of the Company periodically to repay their loan installments.

The Company has come out with an Initial Public Offering by raising funds aggregating to Rs 1300 Crores Equity Shares, comprising Rs 1000 Crore Equity Shares through Fresh Issue and Rs 300 Crore Equity Shares through Offer for Sale.