Mufin Green Finance has announced that the company has completed preferential allotment, raising approximately INR 324 crore through the issuance of equity shares and warrants on a preferential basis for cash consideration.
The company allotted 2,49,30,765 fully paid-up equity shares of face value INR 1 each at an issue price of INR 98 per share (including a premium of INR 97), and 76,53,061 warrants at INR 98 each. The warrants are convertible into equity shares in the future, subject to applicable regulations, the company stated.
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). Marque investors included Sageone Capital, Sandeep Kapadia, DS Group and MMG family office.
Post-allotment, the company’s paid-up equity share capital has increased from INR 17.32 crore (comprising 17,32,31,423 equity shares) to INR 19.82 crore (comprising 19,81,62,188 equity shares).
Commenting on the development and the company’s outlook, Kapil Garg, Managing Director of Mufin Green Finance, said, “We are delighted to close this INR 324 crore equity fund round with strong participation from marquee investors. 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 (PAT) to double in the coming periods, driven by higher disbursements, improved operational efficiency, and favourable market trends in sustainable lending.”
This capital infusion strengthens Mufin Green Finance’s balance sheet, enhancing its lending capacity and supporting accelerated growth in its core focus areas of impact financing solutions, such as insurance premium financing, salary advance to government employees and other tech-first financing solutions.
