Janalakshmi Fin closes first tranche of R125-cr NCDs

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Bengaluru | Published: February 24, 2015 12:28:59 AM

Microfinance institution Janalakshmi Financial Services said...

Microfinance institution Janalakshmi Financial Services said on Monday it has closed the first tranche of listed non-convertible bonds (NCDs) for Rs 125 crore. The MFI plans to raise Rs 250 crore through NCDs and aims to use the proceeds for its business which is focussed on financing the urban poor.
Janalakshmi said the bonds have been rated A- by Icra and are placed on a private placement basis with domestic institutional investors in India.

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