VMPL
Mumbai (Maharashtra) [India], April 2: Emerald Finance Limited (BSE: EMERALD), is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has made allotment of 7,65,090 equity shares on a preferential basis. The shares were offered at a Rs131 including a premium of Rs121 per shares. With this preferential allotment, equity capital stands increased from Rs33.78 Cr to Rs34.54 Cr.
Among the Investors
* Promoters have bought 1,14,500 shares at Rs131 per share
* Saint capital fund Mauritius
* Rajesh Jain, founding partner KPMG in India and Africa
* Vishnu Sultania, Advisor to the United Nations and recognized among India's top 100 CFOs.
This capital infusion will strengthen the company's financial position, enabling expansion in retail and MSME lending. The funds will support its digital Early-Wage-Access product, which provides short-term salary advances in collaboration with employers. The increased capital base will enhance financial stability and funding capabilities. By leveraging technology-driven solutions, the company aims to strengthen its presence in the digital lending space and drive financial inclusion. Increase in stake by promoters and investment by M/S Saint Capital Fund along with other marquee investors underscores their confidence in the future growth prospects of the Company.
Comment on this Mr. Sanjay Aggarwal, Managing Director of Emerald Finance Limited said, "The successful allotment of equity shares reinforces our financial strength and supports our expansion in retail and MSME lending. This capital infusion will also accelerate the growth of our digital EWA product, providing employees with seamless short-term salary advances in collaboration with employers. With an enhanced capital base, we are well-positioned to improve financial stability, strengthen our funding capabilities, and drive greater financial inclusion through technology-driven solutions."
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL.will not be responsible in any way for the content of the same)
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor