TruCap Finance (TRU) has signed a binding agreement to raise up to Rs 105 crore (nearly $13.1 million) in a combination of equity shares, convertible warrants, and nonconvertible debentures from Zeal Global Opportunities Fund. The fund raise would comprise of Rs 80 crore of equity and convertible warrants, while up to Rs 25 crore would be infused through NCDs in the company.
In conjunction with this funding round, TRU proposes to integrate the retail MSME lending vertical of Exclusive Leasing & Finance (EZ Capital) with itself. EZ Capital is a well capitalised, North India headquartered NBFC, focused on providing secured and affordable finance to the MSME sector in India. It currently operates across 10 branches with 109 team members in Delhi NCR and Punjab.
TruCap Finance (formerly known as Dhanvarsha Finvest Limited) is a listed, non-deposit taking RBI Registered NBFC. It is a specialized MSME lender solving the gap in providing access to affordable credit solutions to entrepreneurs.
