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Kerala Financial Corporation raises Rs 250 crore from bond market

FE Bureau
KFC had clocked Rs 17.7-crore net profit in 2018-2019, declaring dividend for the first time after three years. (Website image)

The Kerala Financial Corporation (KFC) has raised Rs 250 crore from the bond market this week. The bond was listed on the BSE.

"The bond, which anticipated collecting Rs 100 crore, garnered Rs 250 crore, on the steam of the company’s own balance sheet, without any government guarantee," says Sanjeev Kaushik, managing director of KFC. The bond has a coupon rate of 8.99%.

The state PSU targets disbursing Rs 3,500 crore in the MSME segment in the current fiscal, Kaushik told FE.

KFC had clocked Rs 17.7-crore net profit in 2018-2019, declaring dividend for the first time after three years.