Arman Financial Services’ wholly-owned subsidiary -- Namra Finance has raised Rs 66.3 crore of debt capital from MUDRA, and the IIV Mikrofinanzfonds, Germany (external commercial borrowing). The company has borrowed Rs 25 crore from MUDRA at a 6.4% rate of interest, on March 17, 2020. (Tenure: 2 years) and Rs 41.3 crore borrowed from IIV Mikrofinanzfonds, Germany at a 12.0% rate of interest (inclusive of hedging cost), on March 16, 2020. This loan is fully hedged, and has tenure of 3 years with a bullet repayment structure.
Arman Financial Services is a category A non-banking finance company. The main objects of the company consist of providing a wide spectrum of financial services in both Fund based and Non Fund Based activities which includes term loans, collateral free credit, other forms of credits, thrift and savings and insurance.
