Mufin Green Finance, a listed non-banking financial company (NBFC), has completed the allotment of 5,000 non-convertible debentures (NCDs) worth ₹500 million (~$5.67 million) through a private placement.

As per an intimation filed with the stock exchanges, each debenture was allotted a coupon rate of 11% per annum, payable monthly.

The NCDs were allotted on September 11, 2025, with a tenure of 15 months. The maturity date for the instrument is December 11, 2026. Principal repayment is structured in two tranches: the first 50% repayment will be made on October 11, 2026, and the final 50% repayment will be made on December 11, 2026.

Muffin Green clarified that no special rights or privileges are attached to the instrument, and there are no applicable conditions regarding delay in payment of interest or principal beyond three months. Furthermore, no letters or comments have been raised on payment matters, and no redemption details of preference shares or other debentures are applicable in this case.

This allotment follows the company’s earlier communication dated August 28, 2025, regarding its fundraising plans through debt instruments.

Founded in 2016, Mufin Green Finance has financed electric vehicles (EVs) worth over ₹3.5 billion (~$39.66 million), resulting in the deployment of ₹490 million (~$5.55 million) worth of EV assets on lease, enabling 354 million green kilometers and contributing to an estimated reduction of 173,788 tons of carbon emissions.

Its financing solutions span both business-to-business and business-to-consumer segments, covering electric two-wheelers, three-wheelers, rickshaws, and four-wheelers, along with channel finance for businesses.

Mufin Green Finance also operates swappable battery infrastructure for two- and three-wheelers based on committed utilizations.

In 2023, Mufin Green Finance secured ₹80 million (~$972,585) in funding from Shell Foundation, a UK-registered charity.