Mumbai: Arka Fincap Limited, a wholly-owned subsidiary of Kirloskar Oil Engines Limited (KOEL) and a part of India’s leading conglomerate Kirloskar Group raised INR 105 crore via Non-Convertible Debentures (NCDs) on a private placement basis.
The Asset Liability Committee approved the issuance of 1050 secured, redeemable, listed, rated Non-Convertible Debentures (NCDs) aggregating up to INR 105 crore of the face value of INR 10 lakh each, for a maximum tenure of three years. The debentures are listed on the BSE Ltd.
Commenting on the occasion, Mr. Amit Gupta, Head – Resources & Corporate Finance, Arka Fincap Limited said, “Raising funds during the outbreak of the pandemic depicts the strength, intrinsic values, and the strong business model of the company. This capital infusion will strengthen our position and build a healthy balance sheet which would further enable us to continue with our journey of providing financial support to our valuable customers”.
Arka has started its operations in 2019 and provides structured term financing solutions to corporates, real estate & loans to Micro, Small, and Medium Enterprise (MSME) borrowers