Moneyboxx Finance crosses Rs. 500 Cr AUM

Moneyboxx Finance Ltd now has the support of 30 lenders including nine leading banks, many large NBFCs and impact funds. Moneyboxx Finance, a BSE-listed, impact-focused NBFC, which provides business loans to micro entrepreneurs in lower tier cities, crossed Rs. 500 Crores assets under management (AUM) in November 2023 and attained a key milestone.

The existing bankers support of the Company reached to the count of nine as Kotak Mahindra Bank got added to the list by sanctioning a term loan of Rs. 10 Crores. As of today, the Company is backed by 30 lenders which includes 9 leading banks such as HDFC Bank, Federal Bank, State Bank of India and now, Kotak.

Additionally, the Company also listed its Non-Convertible Debentures (NCD) amounting to Rs. 25 Crores for the first time on BSE to diversify its funding profile. With the addition of listed NCD, the company will be able to tap resources through retail debt participation.

Commenting on this achievement, Mr. Deepak Aggarwal, Co-founder said: "Crossing Rs. 500 Crores AUM has been a milestone, and it makes us gratified of where we stand today. We have always thrived to do more and extend our contribution in the best way possible through our commitment to support micro entrepreneurs in India. With the aim of driving financial inclusion in rural and semi-urban India, we aim to reach AUM of over Rs. 700 crore and 100 branches by FY24 with growing and continuous support from lenders, lending partnerships, and planned capital raise."

Shares of Moneyboxx Finance Ltd was last trading in BSE at Rs. 268.40 as compared to the previous close of Rs. 268.25. The total number of shares traded during the day was 6978 in over 126 trades.

The stock hit an intraday high of Rs. 278.90 and intraday low of 267.05. The net turnover during the day was Rs. 1878267.00.

Source : Equity Bulls

Keywords

MoneyboxxFinance INE296Q01012 AUM Milestone NBFC