SKS Microfinance raises Rs 354 crore by securitisation

Posted By:

SKS raises Rs 354 crore by securitisation
SKS Microfinance: Quotes, News
BSE 884.85BSE Quote5.05 (0.57%)
NSE 882.65NSE Quote3.5 (0.40%)
SKS Microfinance, the country's only listed microfinace institution (MFI), has raised Rs 354 crore through securitisation. This amount was raised through a public sector bank. However, the company declined to reveal the name citing “non-disclosure agreement”.

Securitisation is the process of pooling different assets together, on hopes that investors buy a pool of assets rather than individual one. This process helps in liquidity as it encourages small investors to purchase shares in the larger asset pool.

The financial officer of SKS said that the company has plans to close another deal before March 31, for around Rs 250 crore.

The company stated the pool was well diversified, with an average loan amount of Rs 10,717. The deal is rated A1+(SO) by credit rating agency CARE Ratings.

The shares of the company on Tuesday were trading at Rs 125.75 up Rs 3.85 or 3.16%.

About SKS
SKS aims to make microfinance financially self-sustainable. SKS use systematic processes, technology and training to help ensure they offer quality service to our borrowers. SKS mission is to fight poverty while keeping in line with their core values of “right focus, right means and the right way.”

Read more about: sks microfinance
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?