 "SKS Microfin completes Rs 163 cr of securitisation")
SKS Microfinance, the only listed one in the country in this segment, on Friday announced its eighth substantial securitisation of lending during the current financial year, of Rs 162.6 crore. With this, Rs 1,271 crore of securitisation has been done for 2013-14.
SKS has downloaded the receivables from micro loans extended to 190,000 rural women entrepreneurs to a Special Purpose Vehicle and the pass-through certificates have been purchased by a leading private sector bank. The entire pool qualifies for priority sector treatment, by the Reserve Bank of India’s lending guidelines.
The pool has been rated A+ (SO) by a leading agency, signifying ‘adequate degree of safety regarding timely servicing of financial obligations’, the company stated.
SKS’ scrip ended on Friday at Rs 185.30 on the BSE exchange , up 1.6 per cent over the previous day’s close of Rs 182.45.
SKS has downloaded the receivables from micro loans extended to 190,000 rural women entrepreneurs to a Special Purpose Vehicle and the pass-through certificates have been purchased by a leading private sector bank. The entire pool qualifies for priority sector treatment, by the Reserve Bank of India’s lending guidelines.
The pool has been rated A+ (SO) by a leading agency, signifying ‘adequate degree of safety regarding timely servicing of financial obligations’, the company stated.
SKS’ scrip ended on Friday at Rs 185.30 on the BSE exchange , up 1.6 per cent over the previous day’s close of Rs 182.45.
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