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This is an archive article published on March 22, 2013

SKS Microfinance completes Rs 115-cr securitisation deals

SKS without naming the rating agency said both the transactions were rated as ASO.

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SKS Microfinance Ltd,India8217;s only listed micro-lender today said it has completed two more securitisation transactions aggregating Rs 115 crore.

In a filing with bourses,SKS without naming the rating agency said both the transactions were rated as ASO.

8220;The company has completed two securitisation transactions aggregating Rs 115 crore,rated A1SO. With this,the company has completed 10 securitisation transactions aggregating Rs 981 crore in FY13 YTD,8221; SKS said in the filing.

When contacted Dilli Raj,Chief Financial Officer,SKS said the securitisation was done from the receivables of non-AP portfolio.

8220;While one securitisation deal was done with a private sector bank,the other was completed with a public sector bank,8221; Raj said.

Securitisation is the process of conversion of existing assets or future cash flows into marketable securities.

SKS stocks rose by 5.85 per cent to Rs 126.60 on Bombay Stock Exchange during afternoon trade.

 

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