Ujjivan Raises Rs.40 Crores through Non-Convertible Debentures

Ujjivan Raises Rs.40 Crores through Non-Convertible DebenturesDate : 14.1.2015. Bangalore-headquartered Ujjivan Financial Services, a leading microfinance institution with pan-India presence, has raised INR 40 Crores of debt capital through issuance of listed, secured, redeemable, non-convertible debentures (NCDs) to Oikocredit .

The NCDs are listed on the Bombay Stock Exchange and have been fully subscribed.

Commenting on this second investment by Oikocredit , Samit Ghosh, Managing Director, Ujjivan, said,” We appreciate Oikocredit’s continued support and commitment to the social sector and look forward to and deepening our relationship. “

Speaking on the transaction, Florian Grohs, Credit director at Oikocredit said, “Oikocredit supports solid businesses with strong social impact and we have found this ideal combination in Ujjivan. We are glad to further strengthen our partnership and hope our support will help Ujjivan reach underserved communities.”

The transaction reiterates Ujjivan’s inherent strength of robust operations, excellent growth and diversified sourcing avenues. On the backdrop of a successful FY 2013-14, Ujjivan has posted excellent growth and profitability in the first three quarters of the current fiscal year.