Centrum Microcredit raises Rs 75 cr via bonds

NEW DELHI: Centrum Microcredit Ltd () on Monday said it has raised Rs 75 crore by issuing bonds and the proceeds are being used to support women entrepreneurs.

The lender said the NCDs were exclusively placed by Centrum Wealth, and were fully subscribed by the HNIs (high networth individuals) and large retail investors during April-May.

The micro credit arm of Centrum Group said the funds were raised in two tranches of Rs 50 crore and Rs 25 crore by issuing non-convertible debentures (NCDs).

The funds are being used to provide financial assistance to women entrepreneurs, CML said in a release.

CML Executive Director and CEO Prashant Thakker said the company was able to raise adequate funds despite the current challenges.

“Micro entrepreneurs have several challenges during the lockdowns, but we foresee a growing demand for working capital and expansion in the next few months as the situation improves,” he said.

The company’s asset under management as of March 31, 2021 stood at Rs 460 crore. CML is present across 9 states serving over 2.2 lakh clients.


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