Moneyboxx Finance raises Rs 176 cr via allotment of equity shares, warrants

Moneyboxx Finance, a NBFC providing business loans to micro entrepreneurs, on Friday said it raised Rs 176 crore to support growth plans.

In a filing to BSE, the company announced the allotment of equity shares and warrants convertible to equity amounting to Rs 176 crore.

The capital raise includes Rs 63 crore via preferential equity issue and Rs 113 crore via equity warrants from both promoters and non-promoters.

"The company has received Rs 91 crore, which includes Rs 63 crore from preferential equity issue and Rs 28 crore from warrants, and the balance Rs 85 crore pursuant to warrants is receivable within 18 months," Moneyboxx Finance said.

The net worth of the company stood at Rs 174 crore as on June 30, 2024, which has increased by over 50 per cent by August 31, 2024 and will double with the total equity raise of Rs 176 crore, it said.

Over two-thirds of the fund raise has come from promoters and existing shareholders, demonstrating their confidence in the business model and