Ujjivan Financial Services Raises Rs 100 Crores NCD through HSBC
Friday, 15 May 2015
Ujjivan Financial Services, a leading microfinance institution with pan-India presence, has raised Rs.100 Crores from domestic Mutual Fund through issuance of listed, secured, redeemable, non-convertible debentures (NCDs).HSBCwas the sole arranger to the Issue.
The NCDs will be listed on Bombay Stock Exchange
*Samit Ghosh, Founder and Managing Director, Ujjivan* said, “Ujjivan has pioneered raising debt from the vast pool of domestic mutual funds. This transaction is continuation in the journey to diversify our source of funding and indicative of excellent investor confidence in Ujjivan.”
Speaking on the transaction *Sudha Suresh, CFO, Ujjiva*n, said that “this NCD issuance signifies the confidence Ujjivan enjoys across diversified set of investors” This NCD transaction has been rated ‘A’by CARE”.
Speaking on the NCD issuance, *Tarun Balram, Managing Director and Head of Capital Financing, HSBC India* said that “Such transactions present an excellent diversification opportunity for both investors and the microfinance sector. Growing access to capital markets is also a testimony to the credit strength of Ujjivan and recognition of the same amongst the investors.”
*About Ujjivan Financial Services Private Limited:*
Ujjivan Financial Services, a microfinance institution (MFI), started operations in Bangalore in 2005 and serves over 2.3 Million urban, semi-urban & rural poor women in 24 states across India with over 7000 employees and 439 branches. It has disbursed loans of over Rs.111 Billion with a repayment rate over 99%. Ujjivan runs a robust financial literacy program and community development & disaster relief programs for customers in collaboration with Parinaam Foundation which is a non-profit organization.Web: www.ujjivan.com | Twitter: UjjivanMFI | Facebook: Ujjivanmicrofin
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