Hedge fund Kora Management invests in Satin Creditcare

Satin Creditcare Network Ltd, one of India’s largest microfinance companies, said it has received an investment of Rs 80 cr from US-based hedgefund Kora Management. Kora’s investment is part of the latest funding of Rs 205 that the company raised from institutional investors that also included the promoters of IndusInd Bank and NMI, an existing […]

IndusInd Bank enters merger talks with SKS Microfinance

Bharat Financial Inclusion, formerly known as SKS Microfinance, said it has entered into exclusive discussion with IndusInd Bank on a potential “strategic combination by way of amalgamation through a scheme of arrangement, or any other suitable structure.” SKS Microfinance is a non-banking finance company (NBFC) was founded in 1997 by Vikram Akula, who served as […]

One of India’s largest mutual funds lends to Ujjivan microfinance lender

Bangalore-based Ujjivan Financial Services has become the first microfinance institution in India to raise funds directly from mutual funds, and that too one of the largest mutual funds in India. It raised Rs 50 cr from an unnamed mutual fund by placing ‘commercial paper’ (a kind of debt). “This is the first CP issuance by […]