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Bhartiya Samruddhi to raise 
1,200 Crore through Debt Instruments
By siliconindia
Hyderabad: Bhartiya Samruddhi Finance, a micro finance firm, plans to raise fund up to 
1,200 crore through debt instruments including non-convertible debentures, in the current financial year, reports Business Standard.
Hyderabad-based Bhartiya Samruddhi Finance, promoted by social entrepreneur Vijay Mahajan, will raise the fund to meet the micro-lender's working capital requirements and fund business growth in regions outside Andhra Pradesh. They are in talks with their banks and a couple of new investors to raise the fund as they sense that their working funds may shrink as they continue to repay their existing debts, says Manmath Dalai, CEO, Bhartiya Samruddhi Finance.
Banks are ready to provide them with additional loan even when they have shrunk lending to microfinance companies. Dalai said that it is the strength of their balance sheet and the large share of its non-Andhra Pradesh business. But the loans will be provided at a higher cost which may squeeze the company's margin in the current financial year. The company offers micro finance in 16 other states along with Andhra Pradesh.
1,200 crore through debt instruments including non-convertible debentures, in the current financial year, reports Business Standard.
Hyderabad-based Bhartiya Samruddhi Finance, promoted by social entrepreneur Vijay Mahajan, will raise the fund to meet the micro-lender's working capital requirements and fund business growth in regions outside Andhra Pradesh. They are in talks with their banks and a couple of new investors to raise the fund as they sense that their working funds may shrink as they continue to repay their existing debts, says Manmath Dalai, CEO, Bhartiya Samruddhi Finance.
Banks are ready to provide them with additional loan even when they have shrunk lending to microfinance companies. Dalai said that it is the strength of their balance sheet and the large share of its non-Andhra Pradesh business. But the loans will be provided at a higher cost which may squeeze the company's margin in the current financial year. The company offers micro finance in 16 other states along with Andhra Pradesh.