SKS Microfinance today said it has concluded securitisation of two loans given to small borrowers aggregating to Rs 390 crore.
With this, SKS Microfinance has completed seven securitization transactions aggregating to Rs 803 crore in FY13, SKS said in a statement.
SKS Chief Financial Officer S Dilli Raj said the present transactions generate liquidity of Rs 370 crore for SKS Microfinance Ltd, country's only listed micro-lender, and also bring in the concomitant capital relief.
"Notably, 26 per cent of the pool is from Scheduled Caste and Scheduled Tribe entrepreneurs, 18 per cent from minorities, 34 per cent from Backward Castes and the
remaining 22 per cent from women belonging to other castes," the statement said.
"The transactions have helped us provide working capital access to 5,00,000 women rural entrepreneurs while enabling the purchasing banks to achieve their priority sector loan obligations," Dilli Raj said.
The two pools are rated A1+(SO) signifying 'Highest Safety' by one of the leading rating agencies, SKS said.
The pools comprise receivables from 14 states (excluding Andhra Pradesh), it said.
SKS has completed 22 assignments/ securitization transactions worth Rs 2,481 crore since October 2010, when Andhra Pradesh promulgated its Andhra Pradesh Micro Finance Institutions (Regulation of Money-lending) Ordinance, 2010 (which became an Act in December 2010).
All transactions have been rated A1+(SO), signifying 'Highest Safety', by one of the leading rating agencies, and Credit enhancement has not been invoked in any of the
structures, SKS statement said.
Shares of SKS rose by 10 per cent to close at Rs 145.75 apiece on BSE from its previous close.