Mufin Green Finance raises its first listed NCD issue worth Rs 50 cr

New Delhi, Nov 4 (PTI) Mufin Green Finance, focused on electric mobility and clean energy financing, has announced raising its first listed NCD issue worth Rs 50 crore, with InCred Capital WealthPortfolio Managers (InCred Capital) as the investor.

The NCD carries a coupon rate of 11 per cent with a maturity of 15 months, the NBFC said in a statement.

This helps in broadening access to listed instruments and diversifying funding channels to strengthen its lending capacity, the NBFC said.

"With this Rs 50 crore raise, we aim to go beyond expanding our lending volumes; our objective is to create a balanced portfolio that supports both consumer finance and the adoption of sustainable energy solutions," said Kapil Garg, Managing Director of Mufin Green Finance.

Around 90 per cent of the proceeds will be directed towards financing medical premiums, a fast-growing consumer financing product, while 10 per cent will be deployed for EV loans, battery financing, and solar panel installations for individuals and small businesses, the release said. PTI NKD NKD MR