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Mufin Green Finance, a non-banking financial company (NBFC) specialising in electric mobility and clean energy financing, has raised INR 50 crore through a non-convertible debenture (NCD) issue, with InCred Capital Wealth Portfolio Managers as the investor. The NCDs carry an 11% coupon rate and mature in 15 months. The raised capital aims to strengthen the company�s lending base while diversifying its funding sources. About 90% of the funds will go toward medical premium financing, and the remaining 10% will be allocated to EV loans, battery financing, and solar panel installations.
Mufin Green Finance, a non-banking financial company (NBFC) engaged in clean energy and electric mobility financing, recently secured INR 50 crore through a non-convertible debenture (NCD) issue. The investment was made by InCred Capital Wealth Portfolio Managers, a part of InCred Capital. Advertisement
The NCDs, which carry a coupon rate of 11% and a tenure of 15 months, are expected to help Mufin Green Finance expand its access to listed instruments and diversify funding sources to strengthen its lending operations. The company stated that the fresh infusion would enhance its ability to support a wider range of sustainable and consumer-focused financial products.
Managing Director Kapil Garg shared that the purpose of the raise goes beyond simply expanding loan volumes. He mentioned that the company?s goal is to build a balanced portfolio that encourages both consumer finance and the growth of sustainable energy solutions.
According to the company, approximately 90% of the funds from the issue will be used to finance medical premiums, a segment witnessing strong demand. The remaining 10% will be directed towards providing loans for electric vehicles, battery systems, and solar panel installations, particularly benefiting individuals and small enterprises.
This development follows Mufin Green Finance?s continued focus on building a diverse clean-energy lending portfolio. In recent quarters, the NBFC has been working to expand its presence across India?s green finance ecosystem, addressing both retail and small business needs in the transition toward sustainable energy solutions.
Source PTI
5th Jun, 2025
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