SKS raises Rs 54 cr via securitisation

Announcement follows company's Rs 200 cr securitisation deal with a PSU bank in Nov

Hyderabad-headquartered macrofinance major SKS Microfinance Limited has raised Rs 54.48 crore through a securitsation transaction, it said in a filing to the Bombay Stock Exchange.

It has raised the money by securitising receivables from 64,579 micro loans extended to rural women entrepreneurs to a special purpose vehicle and pass through certificates (PTCs) have been purchased by a non-banking entity.

"The pool is well diversified with the top three states contributing 45.38 per cent and the top ten branches about 4.85 per cent of the pool principal. The average loan amount is Rs 11,572," said S Dilli Raj, chief financial officer, SKS Microfinance Limited.

 

This announcement comes close on the heels of its Rs 200 crore securitisation transaction with a leading public sector bank in November this year, according to the release.