Tiruchy-based non-banking finance company Grama Vidiyal Micro Finance Ltd (GVMFL) is planning to raise around Rs 100 crore by way of non-convertible debentures over the next three months. The money will be utilised to support the company&rsquo;s expansion plan, said S Devaraj, chairman and managing director, GVMFL.

Grama Vidiyal to raise Rs 100 crore

Business Standard

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Press Trust of India

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Tiruchy-based Non-Banking Finance Company (NBFC) Grama Vidiyal Micro Finance Ltd (GVMFL) is planning to raise around Rs 100 crore by way of non-convertible debentures (NCD) over the next three months. The money will be utilised to support company&rsquo;s expansion plan said S Devaraj, chairman and managing director, GVMFL. Speaking to reporters in Chennai today he said that the company is planning to add 61 branches which would take up total number of branches to 215 from the current 154. Currently the 25-year old NBFC caters to four lakh people and set a target to increase it to 7.5 lakh with a total disbursement of around Rs 350 crore during the current fiscal compared to Rs 240 crore last year.

Grama Vidyal Micro Finance to rasie Rs 100 cr

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