New Delhi, India, 18th October 2024: Usha Financial Services Limited (UFSL), a prominent Non-Banking Financial Company (NBFC), has successfully raised ₹200 million through Non-Convertible Debentures (NCDs) via private placement in September 2024. This strategic move further strengthens UFSL’s financial foundation as it prepares for its Initial Public Offering (IPO) opening on 24th October, with anchor bidding on 23rd October and a closing date of 28th October. The IPO, sized at ₹98.45 crore, has a price band set between ₹160 and ₹168, aligning with the company’s ambitious growth targets.

Since its inception, UFSL has raised over ₹1,000 million from around 370 investors, a clear testament to the company’s strong financial performance and investor confidence. With this latest capital infusion, UFSL is poised to accelerate its operations as it aims for an Asset Under Management (AUM) of ₹5,500 million by March 2025, building on its AUM of ₹3,060 million as of March 2024.

Geeta Goswami, CEO of UFSL, expressed optimism about the company’s future. “This successful NCD issuance reflects the trust our investors have in our business model and growth plans. The additional funds will allow us to enhance our service offerings and keep us on track to achieve our 2025 AUM target,” she said. Goswami also highlighted UFSL’s long-standing commitment to financial inclusion, offering diverse solutions across micro-finance, green financing, and affordable housing. The upcoming IPO will further strengthen its position in the market and support its mission of driving sustainable economic growth.

As part of its growth strategy, UFSL continues to build a broad portfolio, including MSME financing, consumer finance, and affordable housing, while prioritizing sustainability through its Green Financing initiatives. The company, which serves over 25,000 clients, aims to double its customer base to 50,000 by March 2025, further driving financial inclusion across India.