Bengaluru, 1st August 2011:  Ujjivan Financial Services Private Limited, a leading urban poor-focused microfinance institution (MFI), has raised INR 32 Crores (USD 7.2 Million) by way of private placement of Non-Convertible Debentures (NCD). Standard Chartered Bank is the sole book runner and lead arranger of the issue.

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”. Mrs. Sudha Suresh, Ujjivan’s Chief Financial Officer indicated that both transactions were successfully completed in record time.
The NCD is listed with Bombay Stock Exchange.
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. Its PBT is INR177.20 Million with a post-tax profit of INR 114.10 Million, for the fiscal year 2010-11.

About Ujjivan Financial Services:
Ujjivan Financial Services, a microfinance institution (MFI) serving the urban and semi-urban poor, started operations in Bangalore in 2005. Its 4000-strong employees serve over 1 million customers in 20 states across India through 345 branches. In the last 6 years, Ujjivan has disbursed loans of over Rs.2200 Crores with a repayment rate around 99%. Ujjivan is ranked No.1 in the Microfinance Industry as the Best Company to Work for in India by Great Place to Work Institute (India) and The Economic Times. In 2010, it won the Srijan MFI Transparency Award and the Gold Award in Social Performance Reporting. In a jointly funded program with staff, Ujjivan also provides emergency relief from natural & manmade disasters to customers and staff across the country. Healthcare, education, and vocational training programs are provided to the customers in collaboration with Ujjivan’s sister non-profit organization, Parinaam Foundation. For more information, visit www.ujjivan.com.