Business EconomyPosted at: May 25 2024 6:46PM


DVARA KGFS secures USD 10 mn in debt financing

Chennai, May 25 (UNI) Dvara Kshetriya Gramin Financials Pvt Ltd (Dvara KGFS), a financial services company dedicated to maximizing financial well-being in rural India, today, announced the successful debt raise of USD10 million to fuel the company's expansion plans and strengthen its efforts to empower underserved communities across the country.
The funds were secured from BlueOrchard Microfinance Fund, a global impact investor dedicated to creating positive development impact.
The debt was raised through the issuance of listed non-convertible foreign currency bonds under the External Commercial Borrowings route, a release from Dvara KGFS said.
The bonds are listed in the India International Exchange, GIFT City, Gujarat, India's first operational smart city and International Financial Services Centre (IFSC), which has emerged as a nucleus for global financial transactions, fostering a conducive environment for seamless capital flow to India. Leveraging this promising ecosystem, Dvara KGFS capitalized on the opportunity to access foreign debt while also gaining international visibility.
“In a great start to a very promising year, we are delighted to announce the debt raise from BlueOrchard,” said Mr. LVLN Murty, Managing Director & CEO of Dvara KGFS. “The company aims to grow by 40% in the current financial year, and exploring various avenues of raising liquidity will be critical to ensuring of a well-diversified resource profile. Our increased partnerships with like-minded foreign funds working in the impact space will be instrumental in expanding our reach and empowering even more underserved communities by providing them with access to critical financial services.”
UNI GV 1845
Please log in to get detailed story.
Tags: #DVARA KGFS secures USD 10 mn in debt financing
More News

ANSR to set up 200 new GCCs in next 5-year globally including India

12 Jul 2025 | 6:30 PM

Hyderabad, July 12 (UNI) ANSR, a global market leader in setting up Global Capability Centres (GCCs) and operating centres, on Saturday said it is planning to set up 200 new GCCs in the next 5 years globally.

see more..

Forex reserve witnesses a fall: RBI Weekly Statistical Supplement

12 Jul 2025 | 5:15 PM

New Delhi, July 12 (UNI) As per the report by the Reserve Bank of India (RBI) India’s Forex Reserve fell to the mark of $ 699.74 billion. India’s foreign exchange reserves refer to the assets controlled by the Reserve Bank of India in foreign currencies. Policymakers monitor these reserves to maintain smooth liquidity inside the domestic economy.

see more..

Meghalaya businesses, entrepreneurs voice concern during a meeting with Sitharaman

12 Jul 2025 | 4:33 PM

Shillong, July 12 (UNI) Union Finance and Corporate Affairs Minister Nirmala Sitharaman today chaired a stakeholder interaction here in Meghalaya, where she engaged directly with business leaders, entrepreneurs, industry representatives and citizens.

see more..

Wockhardt announces exit from generics drugs Business in US

12 Jul 2025 | 4:15 PM

Mumbai, July 12 (UNI) Pharma company Wockhardt stated in a regulatory filing that it will exit from the US generic drugs market.

see more..

Google hires Varun Mohan and other key executives of Windsurf Research

12 Jul 2025 | 3:45 PM

New Delhi, July 12 (UNI) Google also made its official entry into the AI-led talent war going on these days. The tech major reveals an agreement to hire Varun Mohan (co-founder and CEO of Windsurf Research).

see more..