EV Finance Company, Mufin Green Partners For Charging Infra, Operations

Mufin Green Finance has informed the stock market that the Ministry of Corporate Affairs has approved the formation of one of its associate companies, Mufin Green Infra Limited.

The Ministry of Corporate Affairs has also issued a certificate for the incorporation of Mufin Green Infra Limited on March 2, 2024. The promoter company of the company named Mufin Green Infra Limited is Mufin Green Finance Limited. The authorized capital of the company is Rs 15 lakh which is divided into 1.5 lakh equity shares of ₹10 each.

The new company is going to operate in EV infra services and related activities. In the information given to the stock market, Mufin Green Finance Limited has said that Mufin Green Infra Limited is going to do the work of EV charging infrastructure, power, energy generation, charging stations etc. The company is also going to do the work of civil work, building, structure etc.

Mufin Green Finance Limited is a Kolkata-based EV finance company whose shares have given bumper returns of 60 percent to investors from the level of Rs 134 in the last 6 months. The shares of Muffin Green Finance Limited were at the level of Rs 120 on November 10 last year from where investors have got 80 percent return.

The 52 week high level of shares of Muffin Green Finance, with a market cap of around Rs 3400 crore, is Rs 274 while the 52 week low is Rs 108.

Recently, Mufin Green has Approved the conversion of 8,75,000 convertible warrants into 8,75,000 equity shares of face value of Rs. 1/- each, on preferential basis, upon receipt of an amount aggregating to Rs. 3,60,93,750/- at the rate of Rs. 41.25 per warrant," the company said in an exchange filing

Mufin Green Finance is a pioneer in climate financing solutions in India. It is contributing to the EV ecosystem of the country by providing loans for income generation through Electric Vehicles, Electric Charging Infrastructure, and Swappable Batteries. It has disbursed more than INR 300 crores till date towards electric vehicles. This has not only impacted the carbon footprint, but has also resulted in financial inclusivity, more income generation, and women empowerment.