Monitoring Agency Report for Quarter ended March 31, 2026
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Mufin Green Finance Limited (formerly APM Finvest Limited) submitted its Q4 FY2025-26 Monitoring Agency Report by Acuite Ratings & Research Limited. The company raised INR 263.07 Cr through a preferential issue comprising fully paid equity shares (Rs. 244.32 Cr) and warrants (Rs. 18.75 Cr received so far). The planned use of proceeds was for lending purposes with an object cost of Rs. 319.32 Cr. Of the total raised, Rs. 154 Cr (59%) has been deployed for the stated object so far. The unutilised Rs. 109.07 Cr is parked: Rs. 30.10 Cr in a State Bank current account and Rs. 78.97 Cr deployed in Commercial Papers across nine NBFC and financial services entities, earning Rs. 0.484 Cr. The MA confirms no deviation from offer document disclosures, no changes to means of finance, and no material issues affecting viability.
The fund deployment is proceeding as planned with no red flags reported by the monitoring agency. The Rs. 109 Cr still to be deployed will be utilised in the coming quarter, which is typical as the issue closed only in early March 2026. Warrants are only 25% paid up, meaning Rs. 56.25 Cr in further inflows is expected within 18 months.