Economics Times has a report on JM Financial’s investment in Spandan, a micro finance company. The report has the following mention of Orissa.

JM Financial India Fund, a private equity fund sponsored by JM Financial and Old Lane Partners, will invest Rs 40 crore in Spandana, a microfinance company. …

The micro-finance company caters to lower income borrowers located in rural and urban areas in Andhra Pradesh, Karnataka, Maharashtra, Orissa and Tamil Nadu through a network of 300 branches with a client base of over 10 lakh.