Varthana Finance to raise Rs.116-Cr from Swiss investor Blue Earth Capital

ChrysCapital-backed, Bengaluru-headquartered school financier Varthana Finance is raising INR 116 crore debt from Swiss impact investor Blue Earth Capital.The debt will be raised at 12.85% all-embedded cost for 48 months. The firm's average cost of borrowing is a little over 13%.The company plans to raise INR 350 crore in equity next fiscal to expand its business.