Dugar Finance & Investments Limited, a Chennai-based non-banking financial company (NBFC) with a strong focus on green and inclusive lending, has raised $3 million in debt from the $75 million Green Basket Bond issued by Swiss impact investment firm Symbiotics Investments. The bond, underwritten by British International Investment (BII), the UK’s development finance institution, is designed to drive renewable energy adoption and sustainable finance across Asia and Africa. This fresh capital will be used by Dugar Finance to expand its electric vehicle (EV) financing and rooftop solar financing initiatives, with a special focus on residential customers, MSMEs, and housing societies in tier-II and tier-III cities—segments often underserved by mainstream lenders.
Founded in 1987, Dugar Finance has established itself as a key player in the Indian green finance sector, offering vehicle loans, mortgage loans, and specialized green financing products to over 25,000 customers through more than 30 branches across six states. The company’s customer-centric approach targets self-employed individuals, gig economy workers, and small businesses, aiming to bridge the gap between financial inclusion and sustainability. According to Ramesh Dugar, Founder and Managing Director, this funding is more than just a financial boost—it is a strong endorsement of the company’s mission to democratize access to clean energy and support small businesses at the grassroots level.
To date, Dugar Finance has enabled over 1,200 customers to adopt rooftop solar systems and purchase electric vehicles, resulting in an estimated reduction of 3,000 tonnes of carbon emissions and annual electricity savings of nearly ₹2.96 crore. The company’s commitment to green finance and financial inclusion is expected to further empower underserved communities, helping India transition toward a more sustainable and equitable economy.
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With this latest funding from Symbiotics’ Green Basket Bond, Dugar Finance is set to deepen its presence in the EV and rooftop solar financing space, supporting India’s clean energy transition and reinforcing its leadership in sustainable finance.
