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SLCM’s agri financing arm Kissandhan raises ₹29 cr

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Kissandhan Agri Financial Services Pvt Ltd is a wholly owned subsidiary of Sohan Lal Commodity Management Pvt. Ltd. (SLCM), which is one-stop post harvest agri-logistics group.

Bengaluru, 25th Dec, 2018. RedNewswire/-

SLCM’s NBFC arm Kissandhan Monday said it has raised Rs 29 crore through an issue of non-convertible debentures (NCDs) to Geneva-based Symbiotics Group.

Kissanshan offers loan against agri-commodities to any entity dealing in commodities be it farmer, trader, processor, importer, exporter, SME, etc., provided they have the underlying commodity meeting the criteria of the company. They offer loan for a maximum tenure of 12 months.

SLCM group CEO Sandeep Sabharwal said, “We have been the pioneers in the field of post-harvest logistics and agri-financing in India. Getting funding from large foreign institutions like Symbiotics Group is a testament of the confidence on the sector and our organisation.”

The funds would be used to finance farmers against warehouse receipts, he added.

The company has been handling about 921 agriculture commodities including rice, wheat, maize, mustard, pulses, cotton, barley, bajra, castor seeds, spices, etc.

Kissandhan has so far disbursed loans worth ₹1,751 crore to different segments, made credit available on agriculture commodities to about 3,83,380 farmers in its four years of operations and serviced over 42,225 storage receipts at 307 warehouses till end of November,” Sabharwal said.

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