Share Microfin Limited has raised Rs 500 crore through syndication as part of the total debt fund required for the financial year 2009-10.
It is also in the process of selling its portfolio under the off-balance sheet structures such as securtisation and portfolio buyouts to different banks and financial institutions to raise the balance amount needed.
The company in this regard has already initiated discussions with Punjab National Bank, ICICI Bank, Yes Bank, ING Vysya Bank and Development Credit Bank. “The structured products would sustain the increased access to the capital markets to provide financial services to the poor,” Share managing director Udaia Kumar said.
The Hyderabad-based microfinance institutions with 2.25 million clients in 18 states has made a total disbursement of Rs 6,716 crore. It has an outstanding portfolio of Rs 1,480 crore. Share has plans to reach out to 13 million clients in 20 states with a total portfolio of Rs 14,600 crore in four years, according to a release.
