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DEBT | 12 August 2014

ESAF Microfinance Raises Funds From Triodos

by Tilak Devadiga
ESAF Microfinance Raises Funds From Triodos
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ESAF Microfinance and Investments Private Limited has raised INR 475 Mn through private placement of NCD’s which has been issued to Triodos Fund, a social investment fund from Netherlands owned by Triodos Bank.

The issuance arranged by Unitus Capital has been fully subscribed.

The Kerala based NBFC counts Dia Vikas Capital, a subsidiary of Opportunity International, Australia, and Manaveeya Holdings, a subsidiary of Oiko Credit Netherlands among its other social investors.

ESAF had managed to raise INR 5,600 Mn from banks and through securitisation during the last fiscal.

With cumulative loan disbursement stood at INR 30 Bn during the year, its networth stood at INR 129 Mn as on March 31.

The MFI covers 34 districts and reaches out to more than 6.5 lakh members.

Triodos had recently invested in INR 500 Mn in Grameen Koota by subscribing to rated, secured, transferable, redeemable, listed NCD’s of the company.

-BusinessLine

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