Moneyboxx Finance raises Rs 176 Cr through preferential equity and warrants
The funding is expected to double Moneyboxx's net worth, enhancing its ability to achieve assets under management target of over Rs 2,500 crore by FY26.
BSE-listed non-banking finance company (NBFC) Moneyboxx Finance Limited has raised Rs 176 crore.
The additional capital will allow the company to invest in technology, improve operational efficiencies, and further strengthen its position in rural India.
The capital raise includes Rs 63 crore through a preferential equity issue and Rs 113 crore through equity warrants from promoters and non-promoters, Moneyboxx Finance said in a statement. The company has received Rs 91 crore of the committed amount, with the balance of Rs 85 crore expected within 18 months.
The funding is expected to double Moneyboxx's net worth, enhancing its ability to achieve an assets under management (AUM) target of over Rs 2,500 crore by FY26. In July this year, it had raised Rs 271 crore through equity issuance—of which Rs 158 crore came through a preferential equity issue and Rs 113 crore through equity warrants.
Founded in 1994 as Dhanuka Commercial Private Limited, the company was converted to a public limited company in 2014 and renamed Moneyboxx Finance Ltd in 2019. With 123 branches across 11 states, the NBFC provides secured and unsecured business loans to small entrepreneurs, with a focus on women, livestock-rearing communities, and new borrowers.
Moneyboxx has disbursed over Rs 1,300 crore in loans to over 1.6 lakh borrowers, 58% of whom are women and 30% new-to-credit. The company aims to expand its branch network to over 160 branches and achieve an AUM target of Rs 1,300 crore by March 2025, up from Rs 730 crore in March 2024.
Edited by Jyoti Narayan