Kinara Capital get $10 mn funding from IndusInd Bank; also 100% guarantee from US Int’l DFC
February 22, 2021
Funds to be used for expansion of MSME financial inclusion across manufacturing, trading, and services sectors
Kinara Capital on Monday announced securing $10 million from IndusInd Bank with a 100 per cent guarantee from the US International Development Finance Corporation (DFC).
“This is part of a debt and equity round of ₹100 crore, with equity contributions coming from Kinara’s existing investors Gaja Capital, GAWA Capital, Michael & Susan Dell Foundation (MSDF) and Patamar Capital,” it said in a statement.
The investment will be used by Kinara Capital towards the expansion of MSME financial inclusion across manufacturing, trading, and services sectors in India.
The funds will be used by Kinara Capital for expanding financial inclusion of MSMEs, across manufacturing, trading, and services sectors in India. It has has disbursed Rs2,000 crore across 56,000 collateral-free small business loans
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Microfinance institution Arohan Financial Services files IPO papers to raise Rs 1,750-1,800 crore
The company may raise Rs 150 crore via pre-IPO placement. If the said fund raising takes place, then the fresh issue size will get reduced. February 15, 2021 / 03:00 PM IST
Kolkata-based microfinance lender Arohan Financial Services has filed draft red herring prospectus with the capital market regulator, Sebi on February 14, for its initial public offering.
The public offer comprises a fresh issue of Rs 850 crore and an offer for sale of 2,70,55,893 equity shares by Maj Invest Financial Inclusion Fund II K/S, Michael & Susan Dell Foundation, Tano India Private Equity Fund II, TR Capital III Mauritius and Aavishkaar Goodwell India Microfinance Development Company II.