Hyderabad: Varanasi-based microlender Utkarsh Micro Finance Pvt. Ltd on Friday said it had raised 75.8 crore through a sale of secured, redeemable, non-convertible debentures (NCDs).

Utkarsh, with a loan portfolio of 267 crore, operates in north India in 29 districts of Uttar Pradesh, Bihar, Madhya Pradesh, Uttarakhand, Delhi and Himachal Pradesh with 123 branches and around 285,000 active clients customers.

The NCDs, listed on BSE, were financed by Microfinance Enhancement Facility, UTI International Wealth Creator 4 and AAV Sarl, which were advised by Blue Orchard Finance SA, responsAbility Investments AG and Symbiotics SA, respectively, the microlender said in a statement.

The NCD transaction “will help the company to diversify its funding channels and instruments," said Govind Singh, managing director and chief executive officer of Utkarsh.

“It will also help in further improvement in asset liability maturing pattern," Singh said.

Utkarsh had pegged its total capital requirement at 400 crore for expansion in the next two-three years.

Last week, the microlender said that it had raised 29.8 crore through a private placement of secured, rated, listed, redeemable, transferable and non-convertible debentures.