India, May 15, 2015: Ujjivan Financial Services, a leading micro finance institution with pan-India presence, has raised Rs.100 Crores from domestic Mutual Fund through issuance of listed, secured, redeemable, non-convertible debentures (NCDs).HSBC was 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, Ujjivan, 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.”