Mufin Green Finance, a NBFC specialising in electric mobility and clean energy financing, has successfully secured ₹50 crore through a listed Non-Convertible Debenture (NCD) issue, with InCred Capital WealthPortfolio Managers participating as the primary investor. This NCD offering, rated and secured, features a coupon rate of 11 percent and a tenure of 15 months, offering Mufin Green Finance increased flexibility and access to diversified funding sources, which are expected to enhance the company’s lending capabilities in India’s fast-evolving financial landscape.
The capital raised through this issue is aimed at strategically strengthening Mufin’s portfolio, supporting both consumer finance and green energy adoption. According to company statements, approximately 90 percent of the funds raised will be directed toward financing medical premiums, a fast-growing sector of consumer finance. The remaining 10 percent is earmarked specifically for clean energy initiatives, including electric vehicle loans, battery financing, and solar panel installations for both individuals and small business owners. This approach underscores Mufin’s dedication not just to scaling lending volumes but also to enabling broader access to sustainable financial and clean energy solutions.
Commenting on the development, Kapil Garg, Managing Director of Mufin Green Finance, said, “This ₹50 crore infusion is not just about increasing our loan book but about creating a balanced portfolio that equally supports consumer finance and sustainable energy initiatives.”
The debentures were allotted and are set to mature in February 2027. The principal repayment is structured in two installments, ensuring investor confidence and financial rigor. Furthermore, the issue is secured by the company’s receivables and book debts, which safeguard stakeholders’ interests. With this successful fundraiser, Mufin Green Finance reaffirms its position as a growth-focused NBFC at the intersection of green mobility and digital innovation, contributing to both climate goals and financial inclusion.
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Industry analysts believe that such initiatives are a testament to the sector’s growing credibility and potential for shaping future financial solutions, especially as demand for electric and clean energy financing sees robust growth across India.
