Symbiotics subscribes NCDs worth Rs 33 crore issued by Samunnati Financial

Chennai-based Samunnati Financial Intermediation and Services Pvt. Ltd, an agri value chain finance firm, issued Non-Convertible Debentures (NCDs) worth Rs 33 crore. With this investment, Samunnati becomes the first early-stage agri NBFC to raise five offshore debt investments within a span of 7 months. 

The NCDs were subscribed by two investment funds managed and advised by Symbiotics, an impact-focused investment firm dedicated to inclusive and sustainable finance in emerging and frontier markets. The funds will be utilised by Samunnati to build the portfolio by financing the working capital requirements of small-holder farmer organisations and agri-enterprises across the value chain.

Since its launch in 2014, Samunnati has expanded to 14 states, focussing on 34 value chains and has so far disbursed over Rs 1,400 crore worth of credit, impacting 2 million farmers, indirectly.