Mufin Green Board Greenlights Fundraising Initiative Worth Rs 25 Crore

Mufin Green plans to raise Rs 24.84 crore via non-convertible debentures for working capital and project expansion. The board has approved the proposal, which requires regulatory approval. Proceeds from the debentures will be used to fund clean energy and related projects.

Mufin Green on Saturday said it plans to raise up to Rs 24.84 crore by issuing non-convertible debentures.

A proposal in this regard has been approved by the board at a meeting on Friday, the company said in a statement.

The committee of the Board of Directors of the Company has approved ''raising of funds through issue of rated, unlisted, secured, senior, redeemable, taxable, transferable, non-convertible debentures denominated in Indian Rupees through private placement basis for amount up to Rs 24,84,00,000''.

The proposal remains subject to the approval of the applicable regulatory authorities, Mufin Green said.

As per the company, the proceeds will be utilised for working capital and expansions in the portfolio.

Kolkata-based Mufin Green Finance is a non-banking finance company (NBFC), with a focus on financing clean energy and related projects.

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