Mufin Green Finance, India’s first listed NBFC with a committed focus on electronic vehicle (EV) financing announces its strategic proposal to acquire BSE-listed NBFC, LKP Finance Limited.
This move underscores Mufin Green’s commitment to advancing financial inclusion within the EV ecosystem while fortifying its equity capital base to propel accelerated growth in the company.
“In our pursuit of sustainable transportation solutions, the acquisition of LKP Finance represents a significant milestone”, shared Kapil Garg, MD of Mufin Green Finance. “This strategic venture not only amplifies our green portfolio but also empowers us to offer a diverse range of financing solutions to individual consumers, fleet operators, and commercial entities”.
In addition to bolstering EV financing, this acquisition, one of the largest by Mufin Green Finance, will bring in an additional 340 crores of equity capital into the business. This increased equity capital will help in building Mufin Finance’s Green portfolio enabling the alignment with sustainable goals and positively impacting the society.
MV Doshi, the promoter of LKP Finance, said, “We believe that Mufin Green Finance’s vision and expertise align perfectly well with the goals and aspirations we have set for our organisation. This decision represents a significant milestone in our company’s journey and reflects our dedication to maximizing value for our shareholders and stakeholders. We believe that Mufin Green Finance will accelerate the growth in the Green Energy space, expand their reach, and better serve their customers. We are confident that this acquisition will create long-term value for all involved”.
About Mufin Green Finance
Mufin Green Finance is India’s first listed NBFC with a committed focus on electronic vehicle (EV) financing. The company is contributing to the EV ecosystem of the country by providing loans for income generation through Electric Vehicles, Electric Charging Infrastructure, and Swappable Batteries.
Mufin Green Finance have disbursed INR 750+ cr. In loans till date, towards purchase of electric vehicles, which has not only impacted the carbon footprint, but also resulted in financial inclusivity, more income generation, and women empowerment. Mufin Green Finance is listed on the BSE (Bombay Stock Exchange) and National Stock Exchange (NSE) in India.