Arman Financial Services has raised Rs 115.05 crore through allotment of CCDs and OCRPs to marquee investors on a preferential basis. The company has allotted 6,24,388 Unsecured Compulsorily Convertible Debentures (CCDs) on preferential basis to investors belonging to non-promoter category. The total amount raised is approximately Rs 76.80 crore. Some of the marquee investors include fund(s) controlled by Singapore based Sixteenth Street Capital and USA based Seven Canyons Advisors. Other investors include both domestic and foreign individuals.
The company has also allotted 3,10,972 Optionally Convertible Redeemable Preference Shares (OCRPS) on preferential basis belonging to non-promoter category. The total amount raised is approximately Rs 38.25 crore. The investors include a mix of individuals and family offices.
Arman Financial Services is Category ‘A’ Non-Banking Finance Company (NBFC), which provides lending services primarily in the Two-Wheeler, Micro-Enterprise (MSME), and Microfinance segment.
