Follow India Renewable Energy News on WhatsApp for exclusive updates on clean energy news and insights

Mufin Green Finance Raises Rs 90 Crore via NCD Issue to Boost EV and Solar Lending Portfolio

Mufin Green Finance has allotted Rs90 crore worth of secured, rated, listed, and redeemable non-convertible debentures (NCDs) through a private placement as part of its strategy to expand its green and socially inclusive lending portfolio. The funding will support segments such as electric mobility, rooftop and commercial solar, and mediclaim premium financing, the company said in a regulatory filing.

A total of 9,000 NCDs, each carrying a face value of Rs1,00,000, have been issued and will be listed on the BSE to ensure transparency and investor accessibility. The instruments offer an 11.75% annual coupon, payable semi-annually, and come with a tenure of 4 years, 11 months, and 23 days. The debentures will mature on November 26, 2030, with 99.99% of the principal scheduled for redemption on November 26, 2028, and the remainder on the final maturity date.

Commenting on the issuance, Kapil Garg, Managing Director, said the fresh capital will allow the company to meet rising credit demand in clean mobility and renewable energy segments. Garg added that Mufin’s priority remains enabling micro-entrepreneurs and households to transition to cleaner technologies while expanding access to flexible, responsible credit. The company is also strengthening its mediclaim premium financing vertical to ensure timely access to essential health coverage.

He noted that Mufin Green Finance continues to broaden its presence in key priority sectors, including EV loans, charging infrastructure, battery-linked financing, rooftop solar projects, and medical and insurance premium financing—all of which form a significant portion of its publicly reported portfolio.

The company highlighted that this NCD issue aligns with its long-term funding strategy and regulatory requirements for listed NBFCs, helping reinforce its capital structure through a balanced mix of market-linked borrowings and long-term financing options.