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Saturday, March 23, 2013

SKS Micro raises Rs 115 cr via securitisation deals

SKS Microfinance Ltd, India’s only listed micro-lender, today said it has completed two more securitisation transactions aggregating Rs 115 crore.

In a stock exchange filing, SKS without naming the rating agency said both the transactions were rated as A+(SO).

“The company has completed two securitisation transactions aggregating Rs 115 crore, rated A1+(SO). With this, the company has completed 10 securitisation transactions aggregating Rs 981 crore in FY13 (YTD),” SKS said in the filing.

When contacted Dilli Raj, Chief Financial Officer, SKS, said the securitisation was done from the receivables of non-AP portfolio.

“While one securitisation deal was done with a private sector bank, the other was completed with a public sector bank,” Raj told PTI.

Securitisation is the process of conversion of existing assets or future cash flows into marketable securities.

SKS shares rose 5.85 per cent to Rs 126.60 on Bombay Stock Exchange during afternoon trade.

Source: thehindubusinessline


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