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Bandhan receives funds

Bandhan Financial Services has received a fresh infusion of equity with the GIC Sovereign Fund of Singapore investing in the microfinance company and becoming a shareholder. Two other investors – International Finance Corp and Sidbi are also investing in Bandhan. Chandra Shekhar Ghosh, chairman, Bandhan, said the company has received funds from IFC, Sidbi and GIC Sovereign amounting to Rs 1020 crore. He said GIC has invested around Rs 641 crore, IFC Rs 344 crore and Sidbi Rs 35 crore. Bandhan is now in the process of setting up a bank having received the license from RBI in April 2014. Following the fund infusion, its capital base has risen to Rs 2,600 crore.

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