Mudra Bank, a refinance bank for microfinance and non-banking financial companies, has invested Rs.50 crore in Janalakshmi Financial Services Pvt. Ltd through a securitization deal facilitated by IFMR Capital. This is Mudra Bank’s first capital market transaction.
Mudra, or the Micro Units Development & Refinance Agency, is a government initiative to provide cheap loans to companies that finance micro and small companies. IFMR Capital, in a statement on Wednesday, said it had exclusively structured and arranged a securitization transaction where MUDRA would investRs.50 crore in the A (-) rated senior tranche of securitized loan portfolio of Janalakshmi.