Mufin Green Finance Amplifies Green Energy Funding with Rs 50 Crore NCD

Mufin Green Finance has secured Rs 50 crore for electric mobility and clean energy projects through a new NCD issue with an 11% coupon rate. The funding will be primarily used for financing medical premiums and will also support EV loans, battery financing, and solar panel installations.

Mufin Green Finance has announced the successful raising of Rs 50 crore via a Non-Convertible Debentures (NCD) issue to fuel its initiatives in electric mobility and clean energy financing. The investment, backed by InCred Capital Wealth Portfolio Managers, is set at an 11% coupon rate with a 15-month maturity period.

This strategic move is aimed at enhancing access to listed instruments and diversifying funding sources, all part of Mufin's broad strategy to strengthen its lending capacity and foster sustainable energy adoption.

A significant portion of the funds, around 90%, will target the burgeoning sector of medical premium financing, while the remaining 10% is allocated to support electric vehicle (EV) loans, battery financing, and solar panel installations among individuals and small businesses.

(With inputs from agencies.)