Quant-trading platform AlphaGrep raises Rs.200-Cr via NCDs in follow-on debt issue

Mumbai-based quantitative investment management firm AlphaGrep has raised INR 200 crore through a follow-on issue of secured, redeemable, non-convertible debentures (NCDs). This transaction brings the total NCD funding for the company to INR 400 crore.Founded by Mohit Mutreja, AlphaGrep operates as a quantitative investment management firm. The company intends to use the proceeds to accelerate research and infrastructure development for artificial intelligence and machine learning. It also plans to use the capital to expand its retail-facing business in India.