Mumbai: The Bangalore-based urban markets focused microfinance firm Ujjivan Financial Services today said it is planning to raise Rs 100 crore through a private placement by November.
"We are looking at raising fresh equity of around Rs 100 crore by way of a private placement. This should happen by October-November," Ujjivan Founder and Managing Director Samit Ghosh said over phone.
On whether he has already approached some prospective investors, Ghosh said, "Yes, we are already in talks with our existing shareholders as some of them are interested in raising their stakes further, as well as some others."
Ghosh further informed that the company has last week got approval from the state-run Syndicate Bank for a Rs 25 crore funding this month.
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