Chai­tanya MFI raises `33 cr

Banking Frontiers - - News / Mfi -

Chai­tanya Mi­cro­fi­nance has raised `33 crore through an is­sue of non-con­vert­ible deben­tures. The NCDs were solely sub­scribed to by AAV Sarl, an af­fil­i­ate of global im­pact in­vest­ment com­pany Sym­bi­otics Group. The Bengaluru-based mi­cro­fi­nance in­sti­tu­tion cur­rently op­er­ates across Kar­nataka, Ma­ha­rash­tra and Bi­har, pro­vid­ing joint li­a­bil­ity group loans, along with fi­nan­cial lit­er­acy pro­grams, to ru­ral com­mu­ni­ties across the three states. It had a loan book of about `261 crore. Samit Shetty, MD, said get­ting fund­ing from large for­eign in­sti­tu­tions like Sym­bi­otics Group is a val­i­da­tion of the con­fi­dence on the sec­tor and the in­sti­tu­tion. He said the fund­ing will be used for reach­ing out to sev­eral ru­ral house­holds, thus im­prov­ing their lives.

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