Mufin Green Finance, India’s pioneering NBFC with a dedicated focus on electronic vehicle (EV) financing, has announced its strategic proposal to acquire BSE-listed NBFC, LKP Finance Limited. This landmark move signifies Mufin Green’s unwavering commitment to advancing financial inclusion within the burgeoning EV ecosystem while strengthening its equity capital base to fuel accelerated growth.
With sustainability at the forefront of its agenda, Mufin Green Finance views the acquisition of LKP Finance as a significant milestone in its journey towards fostering sustainable transportation solutions. Kapil Garg, Managing Director of Mufin Green Finance, expressed his enthusiasm for the strategic venture, stating, “In our pursuit of sustainable transportation solutions, the acquisition of LKP Finance represents a significant milestone. This strategic venture not only amplifies our green portfolio but also empowers us to offer a diverse range of financing solutions to individual consumers, fleet operators, and commercial entities.”
The acquisition of LKP Finance, one of the largest by Mufin Green Finance, will infuse an additional 340 crores of equity capital into the business, bolstering its financial strength and enabling the expansion of its green portfolio. This influx of equity capital will play a pivotal role in aligning Mufin Green Finance with sustainable goals and initiatives, thereby positively impacting society at large.
MV Doshi, the promoter of LKP Finance, expressed confidence in the alignment of visions and goals between the two organizations, stating, “We believe that Mufin Green Finance’s vision and expertise align perfectly well with the goals and aspirations we have set for our organization. This decision represents a significant milestone in our company’s journey and reflects our dedication to maximizing value for our shareholders and stakeholders.”
Furthermore, Doshi highlighted the potential for accelerated growth and enhanced customer service within the green energy space, underscoring the transformative impact of the acquisition on both companies and their stakeholders. “We are confident that this acquisition will create long-term value for all involved,” he added.
The strategic alliance between Mufin Green Finance and LKP Finance is poised to redefine the landscape of EV financing in India, offering innovative and sustainable solutions to meet the evolving needs of consumers and businesses alike. By combining their respective strengths and expertise, the two organizations aim to drive positive change in the realm of sustainable transportation while delivering value to their shareholders and stakeholders.
As Mufin Green Finance continues to pave the way for sustainable mobility solutions in India, the acquisition of LKP Finance serves as a testament to the company’s unwavering commitment to environmental stewardship and financial inclusivity. With a shared vision of driving progress through innovation and sustainability, Mufin Green Finance and LKP Finance are poised to make a lasting impact on the EV financing landscape, ushering in a new era of green finance in India.
