Mufin Green Finance closes Rs 324 crore equity fund round

Mufin Green Finance Fund Raising

Mufin Green Finance has raised about Rs 324 crore through the issuance of equity shares and warrants on a preferential basis for cash consideration.

In a release, the company said it allotted 2,49,30,765 fully paid-up equity shares of face value Rs 1 each at an issue price of Rs 98 per share (including a premium of Rs 97), and 76,53,061 warrants at Rs 98 each.

The warrants are convertible into equity shares in the future, subject to applicable regulations.

This preferential issue attracted participation from a mix of institutional investors, high-net-worth individuals (non-promoters), and promoter entities (with the promoter group, Hindon Mercantile, subscribing to the warrants).

Mufin Green Finance said the company closed the equity fund round with investors like SageOne, Sandeep Kapadia, DS group and MMG family office.

Post-allotment, the company’s paid-up equity share capital has increased from Rs 17.32 crore (comprising 17,32,31,423 equity shares) to Rs 19.82 crore (comprising 19,81,62,188 equity shares).

The capital infusion strengthens Mufin Green Finance’s balance sheet, enhancing its lending capacity and supporting accelerated growth in its focus areas of impact financing solutions such as insurance premium financing, salary advance to government employees and other tech first financing solutions.

"This fresh capital will fuel our expansion plans and position us to capitalise on the growing demand for our products. With our robust business momentum, we expect quarter-on-quarter profit after tax to double in the coming periods, driven by higher disbursements, improved operational efficiency, and favorable market trends in sustainable lending," said Kapil Garg, Managing Director of Mufin Green Finance.

Mufin Green Finance deals in sustainable and impact-focused financing solutions.