Download Unicorn Signals App

Powered By EquityPandit

Mufin Green Finance Shares Hit 5% Upper Circuit as Announcing Fundraising Plans

The Board of Directors of the company have considered and approved the fundraising.

Shares of Mufin Green Finance were locked in a 5% upper circuit on 8 December after the company announced its plan to raise Rs 17.50 crore via the issuance of Secured Non-Convertible Debentures on a private placement basis.

In its regulatory filing, the company said that the Board of Directors has considered and approved the fundraising plans to issue 1,750 unlisted, secured, senior, redeemable, taxable, transferable, non-convertible debentures denominated in Indian Rupees that have a face value of Rs 1,00,000 each and a total value of Rs 17.50 crore on a private placement basis.

The company has set the interest rate of 13% that will be paid semi-annually.

The maturity period of the debentures of Rs 7.50 crore has been set on 15 June 2025, and the other part of Rs 10 crore has been set to be redeemed on 7 August 2025.

If by any means the company defaults on the payment, then it has to pay an additional 4% per annum over the interest rate that will be payable on the outstanding principal amounts.

The company was previously known as APM Finvest Ltd. and is focused on environmental and social governance financing products, with a strong focus on India’s growing electric vehicle industry.

In a period of six months, the shares of the company have gained more than 172%, making the stock multi-bagger in 2023.

At 3:30 pm, the shares of Mufin Green Finance closed 4.99% higher at Rs 115.15 on BSE.

Get Daily Prediction & Stocks Tips On Your Mobile