SKS Microfinance raises Rs 200 cr via commercial papers

SKS Microfinance Ltd today said it has raised Rs 200 crore through issue of commercial papers.

"The company issued commercial papers of an aggregate amount of Rs 200 crore on April 29...Which has been rated 'A1+' by a leading rating agency," SKS Microfinance Ltd said in a BSE filing.

It further said: "Instruments with the aforesaid rating are considered to have a very strong degree of safety regarding timely payment of financial obligations. Such instruments carry lowest credit risk."

The aggregate commercial paper outstanding as on date is Rs 420 crore, it added.

Shares of SKS Microfinance were trading at Rs 458.70 apiece, down 1.16 per cent from their previous close on the BSE.