Sahayata Microfinance raises INR 195 MN through NCDs

Microfinance Focus April 23, 2011: Udaipur-based Sahayata Microfinance recently raised INR 195 million through the issuance of non-convertible debentures (NCDs), which have now been purchased by DWM (Cyprus) Ltd., a member of the Developing World Markets group of companies. The NCDs are listed on the Bombay Stock Exchange and have been fully subscribed.

IFMR Capital was the sole financial advisor to the issue. The transaction allows the company access newer funding sources, which will support the low-income households that Sahayata serves across India.

IFMR Trust is a private trust whose mission is to ensure that every individual and enterprise has access to financial services. IFMR Trust’s commercial entities include IFMR Rural Finance, IFMR Capital, IFMR Ventures and IFMR Mezzanine.

Sahayata Microfinance has been started by a team of professionals. It’s target customers are poor women with no access to bank credit. The objective is poverty alleviation and social upliftment of underprivileged women entrepreneurs using the Grameen Methodology of extending financial services to them.