Mufin Green Finance Appoints New Auditors and Approves INR 50 Crore Debenture Issuance

1 min read     Updated on 28 Aug 2025, 06:20 PM
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Riya DeyScanX News Team
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Overview

Mufin Green Finance Limited announced key decisions from its board meeting on August 28, 2025. The company appointed M/s. Gaur & Associates as new statutory auditors for a three-year term, replacing M/s. Tattvam & Co. M/s. Abhay K & Associates was appointed as secretarial auditors for five years. The board approved the issuance of listed, secured, non-convertible debentures worth up to ₹50 crore on a private placement basis. The Annual General Meeting is scheduled for September 29, 2025.

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*this image is generated using AI for illustrative purposes only.

Mufin Green Finance Limited has announced significant corporate decisions following a board meeting held on August 28, 2025. The company has made key appointments and approved a substantial debenture issuance, signaling important changes in its financial management and governance structure.

New Auditor Appointments

The board has approved the appointment of M/s. Gaur & Associates as the company's new statutory auditors. This appointment comes in the wake of the resignation of the previous auditors, M/s. Tattvam & Co. Gaur & Associates, an ICAI registered firm established in 1990, will fill the casual vacancy subject to shareholder approval at the upcoming Annual General Meeting (AGM).

The board has recommended to the shareholders that Gaur & Associates be appointed for a three-year term, from the conclusion of the 9th AGM until the 12th AGM to be held in 2028. This firm brings extensive experience in audit, operations, corporate governance, risk, and compliance services.

Additionally, the board has approved the appointment of M/s. Abhay K & Associates as the company's secretarial auditors. This appointment is for a five-year term, spanning from FY 2025-26 to FY 2029-30, subject to shareholder approval. Abhay K & Associates, led by Mr. Abhay Kumar with nearly a decade of experience, specializes in secretarial audits and regulatory services for listed companies and other corporate entities.

Debenture Issuance Approval

In a significant financial move, Mufin Green Finance's board has greenlit the issuance of listed, secured, non-convertible debentures. The approved issuance is for an aggregate amount of up to INR 50.00 crore on a private placement basis. This decision indicates the company's strategy to raise capital, potentially for expansion or refinancing purposes.

Upcoming Annual General Meeting

The company has scheduled its Annual General Meeting for September 29, 2025. During this meeting, shareholders will have the opportunity to vote on the appointment of the new auditors and other matters approved by the board.

Corporate Governance Implications

These decisions reflect Mufin Green Finance's commitment to maintaining strong corporate governance practices. The appointment of new auditors and the approval of a substantial debenture issuance suggest that the company is taking proactive steps to ensure financial transparency and explore funding options for future growth.

The board meeting, which commenced at 3:30 p.m. and concluded at 4:20 p.m., has set the stage for significant changes in the company's financial oversight and capital structure.

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Mufin Green Finance Raises Rs 4.18 Crore Through Private Placement of Non-Convertible Debentures

1 min read     Updated on 19 Aug 2025, 06:10 PM
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Jubin VergheseScanX News Team
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Overview

Mufin Green Finance Limited has successfully raised Rs 4.18 crore through a private placement of non-convertible debentures (NCDs). The company issued 418 secured, unrated, unlisted, redeemable NCDs with a face value of Rs 1,00,000 each. The debentures carry a coupon rate of 12.80% per annum, payable quarterly, with a tenure of 3 years and 3 days. The NCDs were fully subscribed by Monega Multi-Sector Microfinance & Impact Loan Fund. The debentures are secured by hypothecation of receivables and book debts of the company.

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*this image is generated using AI for illustrative purposes only.

Mufin Green Finance Limited has successfully raised Rs 4.18 crore through a private placement of non-convertible debentures (NCDs), as announced in a regulatory filing to the Bombay Stock Exchange (BSE).

Key Details of the NCD Issuance

The company has issued and allotted 418 secured, unrated, unlisted, redeemable, taxable, and transferable non-convertible debentures. Here are the essential details of the issuance:

Parameter Details
Face Value Rs 1,00,000 per debenture
Total Issue Size Rs 4,18,00,000 (Rs 4.18 crore)
Coupon Rate 12.80% per annum, payable quarterly
Allotment Date August 18, 2025
Maturity Date August 21, 2028
Tenure 3 years and 3 days

Investor and Subscription Details

The issue was fully subscribed by a single investor, Monega Multi-Sector Microfinance & Impact Loan Fund. This private placement demonstrates the investor's confidence in Mufin Green Finance's business model and growth prospects.

Security and Regulatory Compliance

The non-convertible debentures are secured by hypothecation of receivables and book debts of Mufin Green Finance Limited. This provides an additional layer of security for the investor.

The company has made this disclosure in compliance with Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015.

Company Secretary Statement

Mayank Pratap Singh, Company Secretary of Mufin Green Finance Limited, signed the regulatory filing, confirming the details of the NCD issuance and allotment.

This successful private placement of NCDs could potentially provide Mufin Green Finance with additional capital to support its business operations and growth strategies in the green finance sector.

Historical Stock Returns for Mufin Green Finance

1 Day5 Days1 Month6 Months1 Year5 Years
+0.69%-2.59%-1.99%+7.37%-33.19%-36.33%
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