Mumbai, June 23, 2020: 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 the 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 a 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”.
Having commenced its official operations in 2019, Arka is focused on providing structured term financing solutions to corporates, real estate & loans to Micro, Small, and Medium Enterprise (MSME) borrowers.
About Arka Fincap Limited
Arka Fincap Limited (erstwhile Kirloskar Capital Limited), a non deposit taking systemically important NBFC, is a wholly-owned subsidiary of Kirloskar Oil Engines Limited (KOEL). Arka Fincap Limited is a professionally managed Company focused on providing structured term financing solutions to corporates, real estate & loans to Micro, Small and Medium Enterprise (MSME) borrowers.