Share Microfin Ltd Raises Rs 500 cr Through Debt
Share Microfin Limited has raised Rs 500 crore through syndication as part of the total debt fund required for the financial year 2009-10.
It is also in the process of selling its portfolio under the off-balance sheet structures such as securtisation and portfolio buyouts to different banks and financial institutions to raise the balance amount needed.
The company in this regard has already initiated discussions with Punjab National Bank, ICICI Bank, Yes Bank, ING Vysya Bank and Development Credit Bank. “The structured products would sustain the increased access to the capital markets to provide financial services to the poor,” Share managing director Udaia Kumar said.
The Hyderabad based NBFC provides financial and support services mainly to women in rural India. It operates through 766 branches in 16 states and has portfolio of more than 2.25 mn clients. It has made a total disbursement of Rs 5314 cr.
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