Press Release on Preferential Allotment made to Promoter and Non Promoters
FINKURVE · price
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Finkurve Financial Services (brand name Arvog), a gold loan-focused NBFC, raised Rs. 111.50 crore through a preferential allotment to promoter and non-promoter investors. It allotted 1.30 crore equity shares at Rs. 78 each (face value Rs. 1, premium Rs. 77) to non-promoter investors including institutions and HNIs, raising Rs. 101.50 crore. Promoters additionally subscribed to 51.28 lakh share warrants at Rs. 78 each, with Rs. 9.99 crore (25% upfront) already received and the remaining Rs. 29.99 crore payable within 18 months on warrant exercise. The funds will be used to scale operations, expand the technology-driven phygital gold loan model, and grow the company's network across India. The company highlighted that closing the raise during cautious market sentiment reflects investor confidence in the business.
The Rs. 111.50 crore capital infusion strengthens the balance sheet to fund growth in India's gold loan sector and is a positive signal of institutional and promoter confidence. Shareholders should note potential equity dilution when promoter warrants are exercised over the next 18 months, which could weigh on short-term per-share metrics.