PHF Leasing Limited raises $ 10 million through mix of equity and debt
PHF Leasing is a category “A” Deposit accepting Non-Banking Financial Company registered with Reserve Bank of India (RBI) since 1998.
PHF Leasing Limited, a Metropolitan Stock Exchange listed deposit-accepting NBFC, has announced on Tuesday, April 16, that they have raised $ 10 million capital via a mix of equity and debt — including around 60 per cent equity and 40 per cent debt. The company has stated that this money will be used to fund the aggressive growth that it is witnessing in the segments that it operates in.
PHF Leasing is a category “A” Deposit accepting Non-Banking Financial Company registered with Reserve Bank of India (RBI) since 1998. The company offers mortgage loans against immovable property (LAP) and financing E-vehicles primarily E-rickshaws, E-loaders and EV – 2 wheelers.
The company informed that it has clocked over 100 per cent growth over the last 3 years, and it is strengthening existing offices, opening new offices and has set a strong target of increasing the headcount by over 50 per cent over the next few months. It stated that in order to take care of the aggressive numbers, a fund-raising round was necessary and it has successfully raised around Rs 85 crore through a mix of equity and debt.
PHF Leasing informed that the debt has been raised from existing lenders as well as onboarding new lenders. And added that 82 individuals and companies participated in the equity raising round and the company onboarded three new lenders in March 2024 including Cholamandalam Investment and Finance Company Limited, SMC Moneywise and Vivriti Financial.
Talking about this round of funding, Shalya Gupta, CEO, PHF Leasing Limited, said, “This round of funding by investors and corporates reflects their confidence in our system and process led growth. The $ 6 million equity infusion will help us maintain a healthy debt equity ratio as per industry norms. We will be utilizing the funds to reach newer geographies and maintaining an over 50 per cent YOY growth.” He further added that PHF leasing is focused on providing loans to the underserved sections of the society with an aim to make them self-reliant.
PHF Leasing is currently working with lenders like SBI, AU Small Finance Bank, MAS Financial Services, Ambit Finvest, Incred Financial Services, Shriram Transport Finance, Unicom Fincorp and Growmoney Capital.
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
If you make RDs of Rs 5,000, Rs 10,000, Rs 15,000, and Rs 20,000 in post office, what will be your maturity amount?
Special Live Trading Session on Saturday: Know why BSE, NSE will remain open on May 18; check timings
RCB vs CSK IPL 2024 Ticket Booking Online: Where and how to buy RCB vs CSK tickets online - Check IPL Match 68 ticket price, other details
Women loco pilots speak about their struggle; many men have to be informed even for 'washroom break' in a moving train
Bandhan Bank Q4 FY24 Results Preview: PAT, interest income likely to grow in almost double digits; asset quality may improve
08:11 PM IST