IntelleGrow in talks to raise $100m via debt, equity in next few months
Thursday, April 20, 2017
With its eyes set on doubling its assets under management to Rs 640 crore ($99 million) this year, venture debt firm IntelleGrow is in talks with investors to raise $100 million through debt and equity.
“In this financial year, we are looking at a combination of debt and equity to raise about $100 million. I would say 20 per cent there about would be the equity part. The remaining part would be debt which would be loans as well as NCDs,” IntelleGrow CEO, Akbar Khan told DEALSTREETASIA in an interview.
Khan took over the reigns of IntelleGrow in November last year from GE where he was the Head of Business Development, and has charted out an aggressive growth strategy for the non-banking finance company.
“We are a profitable NBFC – we are not a fund. So we can money from investors in the form of equity and leverage up from there and then lend to our customers. We classify ourselves as lenders to early stage and high growth companies. We also do lending to SMEs and mid-corporates, that is a big opportunity for us,” said Khan.