Kirloskar's NBFC arm raises over Rs 100 crore

Arka Fincap, a wholly-owned subsidiary of Kirloskar group raised Rs 105 crore by selling bonds, the non-banking finance company said in a release on Tuesday.

The debt securities, known non-convertible debentures in market parlance will be up to three-year maturities. These papers will be listed on the BSE.

"This capital infusion will strengthen our position and build a healthy balance sheet which would further enable us to continue with our journey of providing financial support to our valuable customers," said Amit Gupta, Head - Resources & Corporate Finance, Arka Fincap.


"Raising funds during the outbreak of the pandemic depicts the strength," he said.

Arka is focused on providing structured term financing solutions to corporates, real estate & loans to Micro, Small, and Medium Enterprise (MSME) borrowers. Last year, the company commenced operations.