Advik Capital to Expand: NBFC Advik Capital is open to exploring partnerships with financial technology companies as it looks to expand business, a top company official said on Monday. The company is looking to expand its personal loans, gold loans, and consumer durable financing portfolios in addition to its corporate loan segment.
“Advik Capital is open to exploring any possible partnerships or joint (projects) ventures with any possible partner, fintech is an interesting direction and will surely be included in the exploration for expanding business,” the company’s director (finance) Madhur Bansal, said.
Advik Capital, one of the emerging Non-deposits taking Non- Banking Finance Company (NBFC) is announcing a Rights Issue worth Rs. 50 crore. The company is registered with the Reserve Bank of India, New Delhi, and is carrying on the Business of investing funds, assisting the financial accommodation by way of loans/advances and undertaking the business of leasing to finance lease operations of all kinds, purchasing, selling, hiring or letting on hire or all kinds of plant and machinery.
Advik has started with some business plans being in process and certain capital raised via Rights Issue which is expected to be invested in funding the planned segments. The move is to boost up the core business and to expand it to consumer finance segments.
Rights Issue proceeds shall be as follows. It will be most likely deployed instantly in a HAM funding (wherein 2/3 will be from a nationalised bank and 1/3 will be funded by NBFC {Bank and NBFC form a consortium funding for these projects}). It is almost agreed upon and the final agreements are in process, it shall be done and the funding disbursed within April’2022.
Madhur Bansal, director finance cum CFO of Advik Capital says, “We believe in giving best out of our services and serve quality services in the sector which makes us an emerging Corporate in the field of financing activities. The satisfaction and trust of our stakeholders is the actual success we earn for concrete roots.”
Advik has plans to expand into Consumer Loans (Gold Loans & Consumer Durable Loans & more). Personal Loans including Gold Loans, Consumer Durable Financing is next on cards. Basically, the company is interested in diversifying into personal loans and microfinancing segments which offer higher returns on investments and considering the numbers (population size) and growth in consumption of durables in India, the company expects it to be a viable business model, the company said in a note.
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