Non-bank lender BlackSoil raises more debt capital

By Joseph Rai

  • 24 Aug 2020

Mumbai-based non-banking financial company BlackSoil Capital Pvt. Ltd said Monday it has raised Rs 25 crore ($3.35 million) by issuing non-convertible debentures (NCDs).

The company issued the NCDs to several high-net-worth families and corporate houses, co-founder Ankur Bansal said, without disclosing their identities.

This is the third NCD issue by the company since January, raising Rs 75 crore in total from over 100 investors.

BlackSoil, which offers debt to real estate developers and unlisted and new-age companies, has disbursed over Rs 1,600 crore across over 90 deals since its inception in 2016.

Some of its key startup investments include Oyo Rooms, EarlySalary, Chumbak, Lets Transport, Vogo and Rentomojo.

Last month, BlackSoil invested more capital in iNurture Education Solutions Pvt. Ltd, a provider of higher education programmes.

In an interaction with VCCircle last month, Bansal had said that the company was looking to step up its pace of investment after a cautious period owing to the coronavirus pandemic.

He had also said the NBFC was reshaping its strategy to choose sectors for investment and was looking to build an exposure to agriculture-technology and gaming segments.

Bansal had also said that the company was looking to raise a total of Rs 100 crore via NCDs this financial year.

BlackSoil Capital is backed by the family offices of Allcargo Logistics, Navneet Education and Mahavir Agency.

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