SKS may raise Rs 3,000 cr next fiscal

SKS Microfinance, India’s only listed micro-lender, may raise Rs 3,000 crore during the next fiscal to meet its lending requirements, a senior official of the company said.

S Dilli Raj, chief financial officer, SKS said the recent rate cut by the RBI is expected to show its effect on the borrowing rates April onwards.

“Basically in terms of FY’14 we are talking about Rs 3,000 crore incremental debt raising and a disbursement of Rs 5,000 crore which will result in a portfolio outstanding of Rs 3,000 crore by the year end,” Raj said.

“One third of Rs 3,000 crore will be through securitisation and the remaining will be term loan and other instruments,” he added. The company has earned profit after seven consecutive quarters of losses.