PE Fund Investments
MSME lender TruCap Finance to raise Rs.80-Cr equity from Zeal Global Opportunities Fund
Mumbai-headquartered TruCap Finance is to raise up to INR 105 crore (USD 13.1 million) from Zeal Global Opportunities Fund. The fundraise would be split into INR 80 crore of equity and convertible warrants and up to INR 25 crore through NCDs (non-convertible debentures) in the company. Founded in 1994, TRU provides MSME (micro, small and medium enterprises) business loans and MSME gold loans through a network of 67 branches in Maharashtra, Delhi-NCR, Madhya Pradesh, Goa, Gujarat, and Rajasthan. The company claims to have disbursed INR 1,132 crore across about 121,000 loans. The funds will be used to scale up grow branch network to over 75 by March 2023.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
