Janalakshmi raises ₹125 crore

Janalakshmi Financial Services Pvt Ltd has raised ₹125 crore through listed, non-convertible bond issue. This is the first tranche of a total of ₹250 crore that the microfinance institution intends to raise by the end of this month. The bonds are rated A- by ICRA and are placed on a private placement basis with domestic institutional investors in India, a press release said. Janalakshmi intends to use the proceeds of the offering for financing the urban poor.