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Ujjivan to raise 
100 Crore via Private Placement
By siliconindia
Bangalore: Bangalore-based Ujjivan Financial Services, provider of a holistic range of services to poor working women in urban and semi-urban areas, plans to raise 
100 crore through fresh equity infusion by the end of this year. The existing investors may also participate in this round of funding.
Last week, the company got approval from state-run Syndicate Bank for 25 crore in funding this month. The private equity investors in the company include Unitus Equity Fund, Sequoia Capital, Lok Capital, Bellwether Microfinance Fund, Michael & Susan Dell Foundation, A.W.Holdings, Elevar Equity, India Financial Inclusion Fund and SIDBI.
Set up in 2005, Ujjivan has disbursed over 20,734 million to more than 991,000 customers at 351 branches in 20 states across India as on 31st March 2011.
Samit Ghosh, CEO and Managing Director, Ujjivan, said that this is the second tranche of funding from banks and SIDBI since April. Last month they received 45.5 crore term funding fro SIDBI and another 55 crore from three banks.
Ghosh has been in international banking for over thirty years. He pioneered consumer banking in India and led the launch of retail banking for Standard Chartered in the Middle East and South Asia and for HDFC Bank in India. He is an alumnus of Jadavpur University and Wharton School.
100 crore through fresh equity infusion by the end of this year. The existing investors may also participate in this round of funding.
Last week, the company got approval from state-run Syndicate Bank for 25 crore in funding this month. The private equity investors in the company include Unitus Equity Fund, Sequoia Capital, Lok Capital, Bellwether Microfinance Fund, Michael & Susan Dell Foundation, A.W.Holdings, Elevar Equity, India Financial Inclusion Fund and SIDBI.
Set up in 2005, Ujjivan has disbursed over 20,734 million to more than 991,000 customers at 351 branches in 20 states across India as on 31st March 2011.
Samit Ghosh, CEO and Managing Director, Ujjivan, said that this is the second tranche of funding from banks and SIDBI since April. Last month they received 45.5 crore term funding fro SIDBI and another 55 crore from three banks.
Ghosh has been in international banking for over thirty years. He pioneered consumer banking in India and led the launch of retail banking for Standard Chartered in the Middle East and South Asia and for HDFC Bank in India. He is an alumnus of Jadavpur University and Wharton School.