Private sector lender IndusInd Bank has entered into a securitization deal in microfinance worth Rs 150 crore with SKS Microfinance, which will help the private sector bank to foray into agri-products as well as microfinance.

Under the transaction, SKS Microfinance offered a pool of assets to IndusInd Bank.

The deal would be executed in two phases. The first tranche of the Rs 100-crore was closed on July 29 and the second tranche is expected to conclude in February next year.

Apart from this, SKS Microfinance has also signed a management and collection agreement with the bank.

The transaction has been structured and arranged by Grameen Capital India.