Microfinance Focus, August 1, 2011: Bangalore based Microfinance NBFC Ujjivan Financial Services Pvt. Ltd. has raised INR 32 Crores (USD 7.2 Million) by way of private placement of Non-Convertible Debentures (NCDs). Standard Chartered Bank is the sole book runner and lead arranger of the issue.

This is the second round of funding within the last one month. Ujjivan raised Rs 23 crores through NCDs with Standard Chartered Bank in July. The NCDs are listed on Bombay Stock Exchange.

Mr. Samit Ghosh, Managing Director, Ujjivan said, “We are pleased with the completion of this NCD transaction. This along with the Rs.23 Crores raised last month has provided us valuable funding of Rs. 55 Crores at a critical time”.

Ujjivan Financial Services serves over a million clients and recorded a profit growth of 49%, and a loan portfolio growth of 69% over last year, to INR 6250 Million. The PBT stands at INR177.20 Million with a post-tax profit of INR 114.10 Million for the fiscal year 2010-11.