The company stated that investors who are not promoters will be given preferential treatment in the allocation of 6,24,388 Unsecured Compulsorily Convertible Debentures.
The entire sum raised is estimated to be Rs76.80 crore. Among the notable investors are funds managed by Singapore-based Sixteenth Street Capital and the United States-based Seven Canyons Advisors. Other investors include both domestic and international investors.
The company also envisaged allotment of 3,10,972 non-promoter Optionally Convertible Redeemable Preference Shares (OCRPS) on a preferential basis. The entire sum raised is estimated to be Rs38.25 crore. Individuals and family offices are among the investors.
Arman Financial Services is a Category-A Non-Banking Finance Company (NBFC) located in Ahmedabad that predominantly lends in the Two-Wheeler, Micro-Enterprise (MSME), and Microfinance segments.
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