Niyogin Fintech to raise Rs 235 crore

AHMEDABAD: Niyogin Fintech Ltd (formerly M3 Global Finance), a Mumbai-based NBFC, to raise up to Rs 235 crore by preferential issue of shares to a group of marquee investors including Ward Ferry, Lucky Investment Managers, Sabre Capital, Alchemy Capital and Alchemy India Long Term Fund amongst others.

Once completed, the shares issued under the proposed transaction will constitute greater than 50% of the fully diluted capital of the Company and will have a well-diversified shareholding with promoters holding less than 40% of the Company on a fully diluted basis. Equirus Capital acted as the sole financial advisor to the transaction.

Niyogin Fintech is a new age technology led NBFC which is engaged in loan disbursement and investments. The current promoters had acquired the Company late last year. Post-acquisition, the promoters & non-promoters had infused over Rs 40 crore through issue of convertible securities, revamped the board of directors & management team, entered into partnerships with technology providers for a robust platform and integrated a pan-India network of partners for distribution & monitoring of credit.