Dvara KGFS plans to raise ₹600 crore

Dvara KGFS, formerly known as Pudhuaaru Financial Services Pvt. Ltd., is planning to raise ₹600 crore through the debt route in the current fiscal.

“For the current fiscal, we are planning to raise money through various sources such as banks, NBFCs, offshore non-convertible debentures and external commercial borrowings,” Samir Shah, executive vice chair and group president, Dvara Trust, said.

“Recently, we raised ₹97 crore in fresh round of equity funding,” he said. “This will enable us to pursue our expansion into newer geographies.”

Skateboat Capital led the latest round of funding along with existing investors such as Leapfrog Investment, Accion and Dvara Trust. Currently, the promoters hold 38% stake followed by Accion 26%, Leapfrog 27.51% and Skateboat 7.20% respectively.

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