BlackSoil NBFC raises Rs 22 crore via NCDs in March

By: |
March 16, 2021 6:07 PM

"The funds raised through this NCDs issue will be utilised primarily for lending activities. It will be used to fund primarily growth startups and MSMEs. Since its inception 4.5 years ago, BlackSoil has raised a total of Rs 287 crore via multiple NCD issues and about 30 per cent of the same has been repaid as well," BlackSoil said in the statement.

The firm said that it has reduced coupons by 1.5 per cent, which means the pricing has been lowered by 150 basis points in the past one year despite the pandemic.The firm said that it has reduced coupons by 1.5 per cent, which means the pricing has been lowered by 150 basis points in the past one year despite the pandemic.

NBFC firm BlackSoil Capital on Tuesday said it has raised Rs 22 crore by issuing secured debentures to family offices and high net worth individuals on a private placement basis.

With this round, the non-banking financial services firm has managed to raise around Rs 80 crore in the current financial year, the company said.

“The funds raised through this NCDs issue will be utilised primarily for lending activities. It will be used to fund primarily growth startups and MSMEs. Since its inception 4.5 years ago, BlackSoil has raised a total of Rs 287 crore via multiple NCD issues and about 30 per cent of the same has been repaid as well,” BlackSoil said in the statement.

The firm said that it has reduced coupons by 1.5 per cent, which means the pricing has been lowered by 150 basis points in the past one year despite the pandemic.

“At BlackSoil despite COVID, we have seen massive 35 per cent growth in disbursement amount compared to last year, which makes us confident that emerging businesses have finally warmed up to the concept of considering alternative avenues of fundraising,” Blacksoil director & co-founder Ankur Bansal said.

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