TruCap Finance to raise up to ₹105 crore from Zeal Global

TruCap Finance Ltd. (TRU) said it has entered into a binding agreement to raise up to ₹105 crore in a combination of equity shares, convertible warrants, and non-convertible debentures from Zeal Global Opportunities Fund.   The fund raise would comprise ₹80 crore of equity and convertible warrants, while up to ₹25 crore would be infused through NCDs in the company.   Rakesh Sethi, chairperson of the Board of TruCap said, “The current funding round once completed will enhance the company’s equity base to approximately ₹325 crore. This will invigorate TRU’s efforts to build business at a greater scale with speed, while we continue what we do best, which is to empower small business owners by enabling credit inclusion through Lending-as-a-Service (L-a-a-S), with a robust risk management framework.”   In conjunction with this funding round, TRU has proposed to integrate the retail MSME lending vertical of Exclusive Leasing & Finance Pvt. Ltd. (EZ Capital) with itself.  EZ Capital is a North India-based NBFC, focused on providing secured and affordable finance to the MSME sector in India.    V.K. Bhandari, Chairman, EZ Capital said, “The combined expertise will foster deep sourcing, distribution, and servicing capabilities to build a pristine quality loan book, via L-a-a-S partnerships with banks and financial institutions to support inclusive economic outcomes for all.”