The diversified Kirloskar group entered the non-banking finance space in 2019 launching Kirloskar Capital under the leadership of veteran banker Vimal Bhandari.
Non-banking lender Arka Fincap has raised Rs 105 crore through issuance of non-convertible debentures.
Kirloskar Oil Engines arm, earlier known as Kirloskar Capital, has issued 1,050 secured and redeemable non-convertible debentures aggregating to Rs 105 crore through a private placement.
The NCDs, listed on the BSE, will have a tenure of three years, the company said in a statement.
The diversified Kirloskar group entered the non-banking finance space in 2019 launching Kirloskar Capital under the leadership of veteran banker Vimal Bhandari. Later, name of the company was changed to Arka Fincap.
The capital will strengthen our position and build a healthy balance sheet that will further enable us to provide financial support to our target customers, the company said.
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