Credent Global Finance raises Rs 30 crore capital through QIP for business growth

Credent Global Finance Fund raising

NBFC firm Credent Global Finance on Wednesday said it has raised Rs 30 crore through Qualified Institutional Placement (QIP) to fund business growth.

Institutional investors participated in QIP, reinforcing investor confidence in Credent's evolving financial services platform and long-term growth strategy, the NBFC firm said in a regulatory filing.

Known for taking a contrary and opportunity-led approach in the market, Credent has recently increased its exposure to an Eastern India-based microfinance institution (MFI), reflecting its confidence in selective credit opportunities where risk-adjusted returns are compelling, it said.

The move aligns with the company's strategy of disciplined capital allocation and counter-cyclical investing, it said.

"With enhanced capital, strategic exposure in high-potential segments, and a strengthened leadership team, we are well-positioned to scale sustainably and deliver long-term stakeholder value," Credent MD Aditya Vikram Kanoria said.