Monetary providers platform Northern Arc Capital at present introduced that it has structured and executed a ₹300 crore market-linked debentures (MLD) transaction for Shriram Metropolis Union Finance.
In a press launch, the Chennai-based non-banking monetary firm (NBFC) Northern Arc mentioned that the debenture challenge was subscribed by a number of, reputed capital market buyers.
Shriram Metropolis Union Finance will use the proceeds of the transaction to cater to the monetary wants of consumers throughout car finance, client finance, MSME finance and gold finance.
“We’re delighted to accomplice with Shriram Metropolis Union Finance, one of many largest, diversified and nicely ruled NBFCs within the nation for this landmark transaction. This unlocks deeper swimming pools of capital, additional retailising debt market investments and entry. It additionally showcases our platform’s potential to ship customised options and investor attain,” Bama Balakrishnan, COO, Northern Arc Capital mentioned within the launch.
Shriram Metropolis Union Finance, which is a part of the Shriram Group, is India’s largest two-wheeler financer (based mostly on the variety of two-wheelers financed). The corporate just lately achieved a milestone of financing one crore two-wheelers in India.
“The closure of certainly one of our largest single tranche MLD issuance, in partnership with Northern Arc Capital, coincides with an vital milestone in our journey – financing of 1 crore two wheelers. Our lengthy enriching partnership with the Northern Arc crew has not solely introduced in new buyers into our folds by their wide-reaching market placement functionality, but in addition has introduced in structural effectivity to our market choices,” Krithika Doraiswamy, Vice President, Finance, Shriram Metropolis Union Finance was quoted within the assertion.
The MLD papers of Shriram Metropolis Union Finance can be out there on Northern Arc’s different funding platform AltiFi.ai for buyers.