TruCap Finance signs a binding agreement to raise Rs 105 crore

5paisa Research Team 22nd December 2022 - 05:58 pm

On Thursday, the stock opened at Rs 77.65 and touched a high and low of Rs 79.95 and Rs 69.40, respectively.

TruCap Finance (TRU) has signed a binding agreement to raise up to Rs 105 crore (nearly $13.1 million) in a combination of equity shares, convertible warrants, and nonconvertible debentures from Zeal Global Opportunities Fund. The fundraising would comprise Rs 80 crore of equity and convertible warrants, while up to Rs 25 crore would be infused through NCDs in the company.

In the recent press release of the company, Rakesh Sethi, Chairperson of the Board of TruCap said, “We are delighted to bring on-board Zeal Global Opportunities Fund and appreciate their belief in TRU’s potential to tap the unmet MSME credit demand in India. The current funding round once completed will enhance the Company’s equity base to approximately Rs 325 crore. This will invigorate TRU’s efforts to build a business at a greater scale with speed, while we continue what we do best, which is to empower small business owners by enabling credit inclusion through Lending-as a-Service (L-a-a-S), with a robust risk management framework.”

TruCap Finance (formerly known as Dhanvarsha Finvest Limited) is a listed, non-deposit taking RBI Registered NBFC. It is a specialized MSME lender solving the gap in providing access to affordable credit solutions to entrepreneurs. The promoters holding in the company stood at 65.33%, while Institutions and Non-Institutions held 3.13% and 31.53%, respectively.

The BSE group 'B' stock of face value of Rs 2 has a 52-week high and low of Rs 187.50 and Rs 53.65, respectively.

Last one week high and low of the scrip stood at Rs 82.00 and Rs 67.50, respectively. The current market cap of the company is Rs 873.44 crore.

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5paisa Research Team

Disclaimer: Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.

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