CredAvenue facilitates MLD issuance of Rs 337.5 crore in MFI sector

CHENNAI: CredAvenueTM has facilitated a market linked debenture (MLD) issuance in the microfinance sector in the country through its online bond platform “Plutus”.
The Rs 337.5 crore MLD issue from Spandana Sphoorty Financial Limited (SSFL) received very strong interest and participation from HNI investors, family offices and corporate treasuries. SSFL MLDs have been assigned a rating of IND PP-MLD A/ Stable by India Ratings, implying low credit risk.
Padmaja Reddy, founder and managing director of SSFL, said, “We are excited to partner with CredAvenue in this landmark transaction. It is good to see heightened interest from retail investors in both our company and the microfinance sector. Funds raised through this issuance will help us scale our business profitably at an accelerated pace.”
Through our fixed income (Plutus) platform we have combined our best in class product understanding and technology to broad-base and deepen Indian debt markets. Plutus platform today offers retail investors a unique opportunity to invest in various debt instruments catering to their lifecycle requirement.
One of the products on the platform, viz. Market Linked Debentures (MLDs) have seen strong traction with retail investors. “Our platform has cumulatively placed around Rs 2,500 crore of MLDs in less than nine months,” said Sarath Bhaskaran, head of outreach, Plutus.