Headquarter of Grameen Koota Financial Services, CreditAccess Asia have offered a fund of Rs 250 crore. As per the reports, Rs 50 crore are offered as a fresh equity, while Rs 200 crore will be provided in the form of compulsorily convertible debentures.
Paolo Brichetto, chief executive, CreditAccess Asia stated, "India is by far our most important market and overall one of the country at the global level where the microfinance industry has developed a conductive and highly regulated business environment."
The main aim is to grow the business and to make it more productive. Grameen Koota managing director Udaya Kumar said in a statement, "With CreditAccess Asia being the 99% shareholders, we have an assurance that we would get growth capital whenever we require it."
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