Arohan raises Rs 44 Crore through NCD’s

Last week, Arohan Financial Services announced the successful closure of two Non-Convertible Debentures (NCD’s) having a total value of Rs 44 Crore which were placed with the Microfinance Initiative for Asia (MIFA) Debt Fund and a Luxembourg based investor.

Arohan Financial Services is a part of the Intellecap group and was acquired by its group company Intellecash in 2012.

Arohan raises Rs 44 Crore through NCD’s

The first placement with a net worth Rs 29.05 Cr, has been issued to a Luxembourg based investor, and another worth Rs 15 Cr has been issued to MIFA Debt Fund. The MIFA Debt Fund is sponsored by KFW, IFC, the EU and the German Ministry of Economic Development and is managed by BlueOrchard Finance.

These debentures issued by Arohan Financial Services are it’s second and third series of securities and have been listed on the BSE. They have been given a rating of BBB by CARE. The funds have terms of 4 and 3 years respectively and will be used to sustain the company’s growth.

Mr. Manoj Kumar Nambiar, Managing Director of Arohan said, “We are pleased to announce the issue and are looking forward to our investors’ faith and confidence. The transaction not only confirms the inherent strength of Arohan’s robust operations, excellent growth and diversified funding avenues; but also opens avenues for future debt investments in the Indian microfinance sector.”

Arohan Microfinance Operations

Arohan Financial Services is a Kolkata based NBFC-MFI and started its operations in 2006. The company currently has a loan portfolio outstanding in excess of Rs 150 Crore that it services through its 70+ branches which are mainly in the states of Bihar and West Bengal. It is estimated that Arohan currently has more than 2 Lakh active borrowers.

Aditya is a talented content writer with a passion for crafting engaging and informative content that resonates with readers. With 10 years of experience in the industry, he has honed his writing skills to produce high-quality content across a wide range of topics.


Please enter your comment!
Please enter your name here