Dvara Kshetriya Gramin Financials Pvt Ltd (Dvara KGFS), an NBFC focused on the rural segment, has raised $14.4 million through Listed NCDs (non-convertible debentures) from Impact Investment Exchange (IIX).
IIX has extended the debt capital to Dvara KGFS through the $100 million Women’s Livelihood Bond 6 (WLB6), an Orange and sustainability-labelled bond in the market that focuses on gender equity and climate action in emerging markets.
As repeat beneficiaries of the WLB Series, Dvara KGFS is excited to continue the partnership with IIX, an investor who has invested over $150 million in India through the series. Both Dvara KGFS and IIX are committed to driving positive change through innovative financial solutions, according to a statement.
“The funds raised through the NCD issuance will be utilized to disburse Joint Liability Group (JLG), Micro Enterprise Loan (MEL), and Water, Sanitation, and Hygiene (WASH) loans for the benefit of women borrowers,” said Shilpa Bhatter, CFO, Dvara KGFS.