The Reserve Bank of India (RBI) has approved Wint Wealth Group’s acquisition of a majority stake in Chandigarh-based NBFC Ambium Finserve Pvt Ltd, Wint Wealth said in a release.
Wint Wealth Group is a wealth-tech conglomerate with a focus on fixed-income investments.
Post-acquisition, the NBFC has already started its wholesale lending operations under the brand name Wint Capital, the release added.
Wint Capital’s current loan book is close to Rs 50 crore and is expected to grow to Rs 500 crore by the end of 2024, the release added.
“The NBFC license will open many new avenues of innovation for us as we can now bring corporate bonds from Wint Capital to better address the needs of our retail investors,” said Ajinkya Kulkarni, Co-Founder and CEO of Wint Wealth.
As per the release, Wint Capital has raised Rs 8 crore in debt and Rs 63 crore in equity from institutional investors so far and will continue to explore meaningful deals to expand its loan book.
“The NBFC also plans to bring its listed corporate bonds to retail investors early next year,” the release added.
So far, Wint Wealth Group enabled over 53,000 investors to invest in fixed deposits, corporate and sovereign gold bonds and bond baskets worth over Rs 1300 crore, it said.
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