Mufin Green Finance Bolsters EV Financing with LKP Finance Acquisition NBFC focusing on electronic vehicle (EV) financing, Mufin Green Finance's acquisition will bring in INR 340 crores of equity capital into the business. This increased equity capital will help in building Mufin Finance's green portfolio enabling the alignment with sustainable goals and positively impacting the society.
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Mufin Green Finance, a New Delhi-based NBFC focusing on electronic vehicle (EV) financing, has announced the acquisition of BSE listed NBFC, LKP Finance Limited.
As per the official release, this move underscores Mufin Green's commitment to advancing financial inclusion within the EV ecosystem while fortifying its equity capital base to propel accelerated growth in the company.
Kapil Garg, MD of Mufin Green Finance said, "In our pursuit of sustainable transportation solutions, the acquisition of LKP Finance represents a significant milestone. This strategic venture not only amplifies our green portfolio but also empowers us to offer a diverse range of financing solutions to individual consumers, fleet operators, and commercial entities."
Mufin Green Finance is contributing to the EV ecosystem of the country by providing loans for income generation through electric vehicles, electric charging infrastructure, and swappable batteries.
As per the company, it has disbursed INR 750+ crore in loans to date, towards the purchase of electric vehicles, which claims to have not only impacted the carbon footprint, but also resulted in financial inclusivity, more income generation, and women empowerment.
MV Doshi, the promoter of LKP Finance, stated, "We believe that Mufin Green Finance will accelerate the growth in the Green Energy space, expand their reach, and better serve their customers. We are confident that this acquisition will create long-term value for all involved."
