Finkurve Financial Services raises Rs 111.5 cr via equity and warrant issuance

Finkurve Financial Services announced the successful closure of fund raising amounting to Rs. 111.50 crore (approx.). This was achieved through a combination of preferential issue of equity shares and share warrants to Promoter and Non Promoters.

This strategic capital infusion is a significant milestone for the Company and is aligned with its objective to scale up operations, expand its technology-driven phygital model, and enhance market presence in India's rapidly evolving gold loan industry.

The Company has allotted 1,30,13,100 equity shares of face value Rs. 1 each at an issue price of Rs. 78 per share (including a premium of Rs. 77), aggregating to Rs. 101.50 crore to a diverse set of non-promoter(s) including institutions and High Net worth Individuals.

Additionally, said promoters have subscribed to 51,28,105 share warrants at Rs. 78 each. The Company has already received Rs. 9.99 crore, representing 25% of the warrant issue price, as upfront subscription. The remaining 75% will be received upon exercise of the warrants within 18 months, translating into a total potential capital inflow of Rs. 39.99 crore.