Mumbai, NFAPost: Centrum Microcredit Limited (CML), the microfinance arm of the Centrum Group, announced the close of two Non-Convertible Debentures (NCDs) amounting to Rs 75 crore.
The NCD issuances are for Rs 50 crore and Rs 25 crore each. The funds from these NCDs are being used to provide financial assistance to women entrepreneurs.
The NCDs were exclusively placed by Centrum Wealth Limited and were fully subscribed to by HNIs and large retail investors, in April and May 2021.
As on March 31, 2021, CML has an AUM of approx. Rs 460 crore and is present in 9 states PAN India servicing over 2.2 lakh clients.
Centrum Microcredit Ltd Executive Director & CEO Prashant Thakker said the company’s vision is to create a positive, social and economic impact on the lives of low-income households by improving access to finance for women entrepreneurs.
“In spite of a challenging business environment and limited liquidity, we have managed to raise adequate funding to service our clients efficiently. Micro entrepreneurs have several faced challenges during the lockdowns, but we foresee a growing demand for working capital and expansion in the next few months as the situation improves,” said Prashant Thakker.
Centrum Microcredit Limited (CML) is a NBFC-MFI regulated by the RBI and part of the diversified financial services Centrum Group. The company provides loans under the joint liability model to low-income women entrepreneurs in urban, semi-urban and rural areas.
‘Financial Inclusion’ is the key objective, and it wishes to empower the un-served and under-served women by providing income generation loans and other relevant financial services. It aims to positively impact 3 million low income households by 2025 across India by being their financial services provider of choice.