Mufin Green Finance has raised Rs 50 crore through a listed Non-Convertible Debenture (NCD) issue, with InCred Capital Wealth Portfolio Managers as the primary investor.
The secured, rated NCDs carry a coupon rate of 11 per cent and a tenure of 15 months, providing the company with greater financial flexibility and diversified funding avenues to strengthen its lending operations.
The fresh capital will primarily be used to expand Mufin’s consumer and green finance portfolio. Around 90 per cent of the raised funds will support medical premium financing, a growing segment in consumer lending, while the remaining 10 per cent will be directed toward clean energy initiatives such as electric vehicle loans, battery financing, and solar installations for individuals and small enterprises.
Commenting on the development, Kapil Garg, Managing Director, Mufin Green Finance, said, “This Rs 50 crore infusion is not just about increasing our loan book but about creating a balanced portfolio that equally supports consumer finance and sustainable energy initiatives.”
The NCDs, set to mature, will be repaid in two installments and are secured against the company’s receivables and book debts, ensuring investor confidence. With this raise, Mufin Green Finance continues to cement its position as a key player at the intersection of green finance and digital innovation, driving both financial inclusion and sustainability.
Industry experts view this move as a reflection of the growing maturity of India’s green finance sector, where hybrid funding models are enabling NBFCs to fuel both economic and environmental progress.
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