Amrit Malwa Capital raises INR 25Cr in debt funding from Vivriti India Retail Assets Fund backed by International Finance Corporation and M&G Catalyst
“We are thrilled to announce that vehicle financing platform Amrit Malwa Capital Limited (“AMCL") has successfully raised INR 25 crore (approx. US$3 million) in debt financing from Vivriti India Retail Assets Fund (“VIRAF”). VIRAF is a first-of-its-kind Asset-backed securitization (“ABS”) fund in India, managed by Vivriti Asset Management (“VAM”). The fund is backed by International Finance Corporation (“IFC") and M&G Catalyst—a global private assets strategy of M&G Investments, a leading international investment manager. With this latest round of debt funding, AMCL has now raised over INR 100 crores (about US$11.5 million) of debt financing from various funds.
Founded in 1987 by Lt. Col. Joginder Singh Gill, Amrit Malwa Capital is on a mission to democratize vehicle financing and leasing space with innovative income generation solutions. The company has been actively involved in providing financial support to low-income clients and has been an early mover in India’s fast-growing market for Electric Vehicle financing (EV). AMCL has already financed EVs worth over INR 200 crore.
This funding will enable AMCL to further expand its operations and continue its commitment to making EV financing accessible to a wider audience. By leveraging the expertise and support of VIRAF, AMCL aims to support income generating employment opportunities for low-income households in a sustainable and environmentally conscious manner.
?AMCL's vision aligns perfectly with the growing demand for sustainable transportation solutions and the global shift towards electric mobility. As the world embraces cleaner and greener alternatives, AMCL is at the forefront of driving change in the vehicle finance industry.
?We would like to express our gratitude to Vivriti Asset Management and the teams behind VIRAF for their trust and belief in AMCL's mission. This funding will undoubtedly accelerate our efforts to create a more sustainable?future.”
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About Amrit Malwa Capital
?Amrit Malwa Capital Limited registered with the Reserve Bank of India as NBFC-Investment AND Credit Company (NBFC-ICC). Our primary business is to finance two-wheelers, E-Rickshaws, E-Bikes, Personal Loans and Loan against Property (LAP). Being in business for more than three decades, we have strived to achieve the highest levels of professionalism, sincerity, discipline and above all to stand to our commitment with our worthy investors and stakeholders. In the present economic scenario of India, where financial inclusion is the top priority, AMCL provides financial products to the common man with minimal documentation, faster and hassle free approval. AMCL feels pride in having over 1lac+ strong customer base for whom owning an automobile was a distant dream.
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About VAM
?Vivriti Asset Management (VAM) is a performing-credit focused asset manager, investing in debt issued by mid-sized enterprises. With commitments of US$500 million across 9 funds, VAM manages sector-agnostic funds that have invested across infrastructure, energy, logistics, financials, Saas and services businesses.
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Vivriti Asset Management Private Limited (IFSC branch) is registered with International Financial Services Centres Authority (IFSCA) as a Registered FME (Non-Retail) and the Investment Manager for Vivriti Fixed Income Fund – Series 3 IFSC LLP (trade name of Vivriti India Retail Assets Fund). VIRAF is a restricted scheme (non-retail) under the IFSCA (Fund Management) Regulations, 2022.