Centrum MicroCredit buys Altura Financial with its Rs 100-crore loan

Centrum MicroCredit has signed an agreement to acquire  Altura Financial Services, with a loan portfolio of Rs 100 crore. This is the second acquisition by Centrum after it acquired L&T Finance’s supply chain finance portfolio of Rs 650 crore in September last year. Jaspal Bindra, executive chairman of Centrum, had earlier stated that its complete book is funded by term-loans from banks and the firm has not taken and commercial paper money or raised debentures.