Mufin Green Finance Secures Landmark Rs 50 Crore NCD Issuance for Clean Energy Growth

Mufin Green Finance announced its first listed non-convertible debenture issuance on the BSE, raising Rs 50 crore. The funding focuses on expanding their loan portfolio in consumer and clean energy sectors, primarily financing medical premiums and electric mobility projects, to enhance their lending capabilities.

Mufin Green Finance has successfully raised Rs 50 crore through its first-ever listed non-convertible debenture (NCD) issuance on the BSE's EBP Platform. The issuance, with a coupon rate of 11 percent and a maturity period of 15 months, aims to strengthen the company's lending capacity by diversifying its funding channels.

The financing institution, primarily focused on electric mobility and clean energy projects, intends to use approximately 90 percent of the funds to finance medical premiums. The remaining funds will support electric vehicle loans, battery financing, and solar panel installations for individuals and small businesses, highlighting Mufin Green Finance's commitment to sustainable energy solutions.

Kapil Garg, Managing Director of Mufin Green Finance, emphasized that the Rs 50 crore raise aims at expanding lending volumes while balancing consumer finance with sustainable energy initiatives. This strategic move seeks to bridge financing gaps with practical and impactful solutions, furthering the adoption of clean energy practices.

(With inputs from agencies.)