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BlackSoil secures Rs 32 crore via NCDs

Leading debt round funding venture firm, BlackSoil has raised Rs 32 crore through issuance of non-convertible debentures (NCDs), to complete Rs 100 crore of investment in CY2020.

Led by over 60 investors in the participation from 70% existing investors. The NCDs were issued on a private placement basis for the tenor of 3 years.

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“The fresh funds will be utilized for lending the activities of the company,” The statement added.

Speaking on the fundraise, Ankur Bansal, Director & Co-Founder of BlackSoil Group, Said, “In the present scenario of lower interest rates our issue offers safe long term investment options with stable returns to investors.”

“Over the last two years, we have created a strong network of more than 150 high net-worth families & corporates who have shown tremendous support by investing in multiple series of BlackSoil’s NCD program & remain monumental in the success of our platform. The strong demand for our offering amidst market uncertainties and the ongoing pandemic is a testament to the confidence shown in BlackSoil’s resilient performance in the light of the pandemic”, Ankur said.

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