BlackSoil NBFC bags Rs 100 Cr equity infusion from existing investors

BlackSoil NBFC, the flagship company of the BlackSoil Group, has raised equity of Rs 100 crore, through a rights issue, from existing Indian investors and family offices.

The company plans to use the capital to improve its credit profile and boost its borrowing capabilities.

This funding is BlackSoil NBFC's fourth capital infusion in eight years and brings its total equity raised to over Rs 250 crore. It has also secured debt financing of over ₹1,700 crore from HNIs, banks and other NBFCs.

"This funding will enable us to accelerate our growth trajectory and further solidify our position as a leading player in the alternative credit space. While supporting the growth aspirations of our clients, we are committed to delivering value to our stakeholders," said Ankur Bansal, Co-founder and Director of BlackSoil.

Established in 2016, BlackSoil is an alternative credit platform comprising an RBI-registered non-banking financial company (NBFC) and a SEBI-registered alternative investment fund. It is backed by investors and family offices of Allcargo Logistics, Navneet Education, Mahavir Agency, and Mathew Cyriac-led Florintree Advisors.

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The Mumbai-based platform offers credit to growth companies, financial institutions, and NBFCs. It has built a quality loan book of Rs 5,000 crore, deployed across 214 deals, as of December 2023. Its portfolio includes investments in growth companies such as ideaForge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, Yatra, Purplle, and Curefoods.

BlackSoil's portfolio companies collectively raised equity of $800 million in CY23. Three of these companies—Yatra, ideaForge and Cellecor—were listed on the exchanges. In CY2023, BlackSoil deployed Rs 1,650 crore across 63 deals and exited from more than 20 deals, and its AUM grew 30% year on year.