Mumbai, January 25, 2021:
Fedbank Financial Services Ltd. (Fedfina) has raised from Rs 250 crore by issuing and allotting commercial paper during December 2020 and January 2021, with one of the largest Mutual Fund.
It issued 3,000 and 2000 units of commercial paper with face value of Rs 5 lakh each on 17 December 2020 and 25 January 2021 respectively, aggregating to Rs 250 crore. Leading rating agency, CRISIL Ratings Limited has assigned an 'A1+' rating on the Commercial Paper.
Fedfina, set-up in 2007, is a diversified NBFC registered with the Reserve Bank of India as a non-deposit-systematically important-NBFC. The company commenced operations by distributing auto and home loans for FBL. It received the NBFC license in 2010 and started gold finance outside of Kerala region in 2011, SME finance in 2012 and construction finance in 2014. The company also lends micro-finance loans, structured finance and home loans.