Mufin Green Finance Ltd. (BSE: 542774), a pioneer in climate financing solutions, has announced that its board has approved the raising of funds by way of preferential issue to promoter group and non-promoter group, subject to approval from members and other
relevant authorities. The board also approved Increase of Authorized Share Capital of the Company from Rs. 20 Crore to Rs. 50 Crore, subject to the approval of Members.
The company stated that it’s board approved the issue of up to 2.55 Crore warrants each convertible into one equity share within the period of 18 moths in accordance with the applicable law at a price of Rs. 55/-each (including the warrant subscription price and the warrant exercise price) aggregating up to Rs. 140.25 Cr, to various promoter group persons and other non-promoter group persons by way of preferential issue, subject to approval from members and other relevant authorities. Upon issue of Warrants, 25% of the total issue size shall be called upfront from the proposed allottees.
The company has set its EGM for 21 October, 2023 for seeking member’s consent for increase in authorized capital and warrants issue.
Mufin Green Finance Ltd stands at the forefront of climate financing solutions in India, with a dedicated focus on steering the nation towards a greener and more sustainable future. Recognized as a pioneer in the field, the company is steadfast in its commitment to catalyzing the electric vehicle (EV) ecosystem, thereby fostering income generation through Electric Vehicles, Electric Charging Infrastructure, and Swappable Batteries.
The organization’s mission transcends mere environmental transformation, encompassing a broader vision of effecting positive social change within India. This mission is underpinned by a dual commitment to both financial inclusion and climate sustainability. Climate sustainability is not simply an activity for Mufin Green Finance Ltd. – it’s a way of life combining economic growth with environmental responsibility.
Mufin Green Finance Ltd has disbursed more than 350 crores towards electric vehicles, making a significant impact on the nation’s carbon footprint. In addition to fostering financial inclusion, its initiatives have created a variety of avenues for generating income and empowering women across the nation. In order to achieve genuine progress, the organization holds that ecological and social well-being must be harmoniously balanced. It serves as an advocate for the cause of climate finance, playing a leading role in a revolution that promises to revitalize India environmentally, economically, and socially.