SATYA MicroCapital raises Rs 135 crore through non-convertible debentures, BFSI News, ET BFSI
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Blue Orchard invested Rs 55 crore in June and July while Rs 80 crore came from responsAbility Investments recently, SATYA MicroCapital said. The NBFC will utilise the funds to lend to micro and small firms and individuals to help their businesses recover from the pandemic.
Vivek Tiwari, MD, CIO & CEO, SATYA MicroCapital, said, “The pandemic has negatively impacted the small and micro entrepreneurs across the entire nation. Without adequate financial support, it’s a very challenging task for them to come out of pandemic induced roadblocks. Post surpassing the second wave of Covid-19, the immediate requirement is to salvage the businesses and assist them in returning to normalcy. The unbanked population will look to the microfinance sector to help them resume their normal lives.”
He said, “With the help of this funding, SATYA will be able to meet the immediate liquidity demand of businesses which will not only bring their businesses back to life but will also prepare them for a brighter future.” SATYA aims to provide financial assistance to five million households by 2025.
Sanjay Goel, Head – Finance, SATYA MicroCapital Ltd, said, “This is a testament of the belief that our both esteemed debt investors have instilled in SATYA and its operational model.”
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