Mufin Green Finance Limited has raised Rs 900 million through a private placement of non-convertible debentures (NCD) that are secure, rated, and listed.
The funds will be used to scale the company’s rooftop and commercial solar installations, electric mobility, and health-insurance premium financing business. The company has issued 9,000 NCDs priced at Rs 0.1 million each. Furthermore, these NCDs carry an 11.75 per cent coupon, paid semi-annually, and have a tenure of 4 years, 11 months, and 23 days. They will mature on November 26, 2030, with 99.99 per cent of the principal scheduled for redemption in November 2028 and the remaining amount payable at maturity. Additionally, the debentures will be listed on the Bombay Stock Exchange.
