Odisha-Based NBFC Annapurna Finance to Raise $75-100 Million in Funding
Annapurna Finance to Raise $75 Million-100 Million in Equity
Mumbai: Annapurna Finance, a non-banking financial company in Odisha, is planning to raise $75 million-100 million in equity this year. The move comes as the company looks to expand its operations beyond microfinance.
According to sources, some of Annapurna Finance's early backers are expected to sell their stake in part or full as the company seeks to grow. The equity raise is aimed at supporting Annapurna Finance's expansion plans.
Details of the equity raise and the names of the investors involved are yet to be disclosed. However, it is clear that the company is gearing up for a significant shift in its business strategy.
Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
Investor Takeaway
Annapurna Finance plans to raise $75-100 million in equity this year.
More in Market
Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data
US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline
Indian Stocks to Watch: BHEL, Agarwal Industrial, JBM Auto, Rajesh Exports, Indian Energy Exchange, Lenskart Solutions in Market Focus on June 4.
