BlackSoil NBFC raises Rs 100 crore to boost credit profile
This latest funding round marks BlackSoil NBFC's fourth capital infusion within eight years, bringing its total equity raise to over Rs 250 crore.
BlackSoil NBFC, the flagship arm of alternative credit platform BlackSoil Group, on Monday raised equity of Rs 100 crore from its existing Indian investors and family offices through a rights issue.
The equity infusion will improve credit profile and increase borrowing capabilities, BlackSoil said in a statement.
BlackSoil's portfolio includes investments in growth companies such as Ideaforge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, and Curefoods.
This latest funding round marks BlackSoil NBFC's fourth capital infusion within eight years, bringing its total equity raise to over Rs 250 crore.
“This funding will enable us to accelerate our growth trajectory and further solidify our position as a leading player in the alternative credit space,” said Ankur Bansal, Co-founder and Director of BlackSoil.
Additionally, the firm has secured debt financing of over Rs 1,700 crore from high net-worth individuals, banks and other NBFCs, further bolstering its financial position.
At the group level, the company has surpassed Rs 5,000 crore disbursement across 214 deals by December 2023.
It recently unveiled its supply chain financing vertical, SaralSCF, as a part of its strategic expansion plan to empower new economy businesses with customised financing solutions. SaralSCF has already disbursed over Rs 1,500 crore and onboarded more than 110 “anchor partners,” said the company.
“With a strong asset base, this equity round will equip the company to expand our assets under management (AUM) in new-age economy sectors,” said BlackSoil investor Gnanesh (Sunil) Gala, Managing Director, Navneet Education.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
80% return in one year: Brokerage suggests buying this Maharatna PSU stock for 2-3 days, check target
Lok Sabha elections 2024 Phase 4: Voting date, timing, states, union territories, seats, key candidates and constituencies | LS Polls
5 investment schemes that provide monthly pension to senior citizens fixed deposit fds savings scss guaranteed return atal pension yojana post office monthly income swps mutual fund
HPCL dividend 2024: OMC Hindustan Petroleum Corporation announces Rs 16.50 dividend, check record date
Akshaya Tritiya bank holiday or not Basava Jayanti 2024 festival date Banks closed or open tomorrow may 10 friday check out state-wise full list
11:01 AM IST