The Hindu Business Line : SHARE Microfin raises Rs 500 cr

Hyderabad, Oct. 25 SHARE Microfin Ltd (SHARE) has raised Rs 500 crore through syndication as part of its plans to raise debt funds for the financial year 2009-10.

The Hyderabad-based micro-finance institution is also in the process of selling its portfolio under the off-balance sheet structures such as securitisation and portfolio buyouts to different banks and financial institutions to raise funds.

It has already initiated discussions with Punjab National Bank, ICICI Bank, YES Bank, ING Vysya Bank and Development Credit Bank.

SHARE has been assigned MFI 1, the highest grading (on a five-point scale from MFI 1 to MFI 5) issued to a micro-finance institution in the country by Credit Analysis and Research Ltd, a press release said.

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