SIDBI plans to raise Rs 50 billion via bonds for refinancing activity

Small Industries Development Bank of India (SIDBI) has planned to raise up to Rs 50 billion through bonds in the backdrop of a rise in its refinancing activity. 

Rating agency Icra has assigned “AAA” rating for the proposed bond offering. 

It is an apex financial institution (FI) for the micro, small and medium enterprises (MSME) sector backed by the Government of India. The government has 15.4 per cent stake in SIDBI. Public sector banks (PSBs), insurance companies and other FIs collectively hold more than 50 per cent stake in SIDBI. The Reserve Bank of India (RBI) has allowed SIDBI to borrow up