Business EconomyPosted at: Apr 16 2024 4:29PM

PHF Leasing raises $10 million via a mix of equity and debt

New Delhi, April 16 (UNI) Non-banking financial company (NBFC) PHF Leasing on Tuesday said that it has raised US$ 10 million through a mix of equity and debt.
The fresh capital includes around 60% equity and 40% debt.
"This money will be used to fund the aggressive growth that the company is witnessing in the segments that it operates in," PHF Leasing said in a media release.
The company said that debt has been raised from existing lenders as well as onboarding new lenders.
Further, it said that as many as 82 individuals and companies participated in the equity raising round and the company onboarded three new lenders in March 2024 including Cholamandalam Investment and Finance Company, SMC Moneywise and Vivriti Financial.
“This round of funding by investors and corporates reflects their confidence in our system and process led growth. The $6 million equity infusion will help us maintain a healthy debt equity ratio as per industry norms. We will be utilizing the funds to reach newer geographies and maintaining an over 50% year-on-year growth”, said Shalya Gupta, CEO, PHF Leasing.
He further added that PHF leasing is focused on providing loans to the underserved sections of the society with an aim to make them self-reliant.
Some of the lenders currently working with PHF Leasing include SBI, AU Small Finance Bank, MAS Financial Services, Ambit Finvest, Incred Financial Services, Shriram Transport Finance, Unicom Fincorp and Growmoney Capital.
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India services PMI dips to 60 8 in April

06 May 2024 | 12:42 PM

New Delhi, May 6 (UNI) India's services sector activities remained in expansion mode but the pace of growth slowed down in the month of April this year with services PMI (purchasing managers’ index) dropping to 60.8 during the month compared to 61.2 in March, as per a private survey released on Monday.

PHF Leasing raises $10 million via a mix of equity and debt

India services PMI dips to 60 8 in April

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AGRA, MAY 6 (UNI):- Ramesh Chand Kushwah 78, India's longest moustache man appealing voters to cast their valuable votes for the Lok Sabha election, in Agra on Monday.UNI PHOTO-65U

AGRA, MAY 6 (UNI):- Ramesh Chand Kushwah 78, India's longest moustache man appealing voters to cast their valuable votes for the Lok Sabha election, in Agra on Monday.UNI PHOTO-64U

PANAJI, MAY 6 (UNI):- Polling officials with foreign delegates checking the Electronic Voting Machine (EVMs) and other election related material required for the 3rd Phase General Elections-2024 at the Dr. Shyama Prasad Mukherjee Indoor Stadium, in Goa on Monday. UNI PHOTO-62U

PANAJI, MAY 6 (UNI):- Polling officials with foreign delegates checking the Electronic Voting Machine (EVMs) and other election related material required for the 3rd Phase General Elections-2024 at the Dr. Shyama Prasad Mukherjee Indoor Stadium, in Goa on Monday. UNI PHOTO-61U

AHMEDABAD, MAY 6 (UNI):- Polling officials distributing the Electronic Voting Machine (EVMs) and other election related material for the 3rd Phase General Elections-2024 at the C N Vidhyalay Ambawadi, in Ahmedabad on Monday. UNI PHOTO-60U

BHOPAL, MAY 6 (UNI):- Polling officials carrying the Electronic Voting Machine (EVMs) and other election related material required for the 3rd Phase General Elections-2024 at the Lal Parade Ground Jahangirabad, in Bhopal on Monday. UNI PHOTO-59U

RANCHI, MAY 6 (NI):- Congress Lok Sabha Candidate Yashaswini Sahay along with her father former Union Minister Subodh Kant Sahay file nomination paper for Lok Sabha elections, in Ranchi on Monday. UNI PHOTO-58U

RANCHI, MAY 6 (NI):- Congress Lok Sabha Candidate Yashaswini Sahay along with her father former Union Minister Subodh Kant Sahay file nomination paper for Lok Sabha elections, in Ranchi on Monday. UNI PHOTO-58U

RAIPUR, MAY 6 (UNI):- Polling officials carrying the Electronic Voting Machine (EVMs) and other election related material required for the 3rd Phase General Elections-2024 at the National Institute of Open Learning, BTI Ground in Raipur, Chhattisgarh on Monday. UNI PHOTO-57U

AHMEDABAD, MAY 6 (UNI):- Polling officials checking the Electronic Voting Machine (EVMs) and other election related material required for the 3rd Phase General Elections-2024 at the CN Vidhyalay Ambawadi, in Ahmedabad on Monday. UNI PHOTO-55U

HYDERABAD, MAY 6 (UNI):- Dr.Arathi Krishna, AICC Secretary, In-charge of the Indian Overseas Congress, addressing a press conference at the party office Gandhi Bhavan, in Hyderabad on Monday. UNI PHOTO-53U

RAIPUR, MAY 6 (UNI):- Polling officials checking the Electronic Voting Machine (EVMs) and other election related material required for the 3rd Phase General Elections-2024 at the National Institute of Open Learning, BTI Ground, in Raipur, Chhattisgarh on Monday. UNI PHOTO-51U

RAIPUR, MAY 6 (UNI):- Polling officials carrying the Electronic Voting Machine (EVMs) and other election related material required for the 3rd Phase General Elections-2024 at the National Institute of Open Learning, BTI Ground in Raipur, Chhattisgarh on Monday. UNI PHOTO-50U

RANCHI, MAY 6 (UNI):- A magician perform magic show during an election campaign rally in favour of Ranchi Congress candidate Yashaswini Sahay along with her father and former Union Minister Subodh Kant Sahay, in Ranchi on Monday. UNI PHOTO-49U

RANCHI, MAY 6 (UNI):- Congress candidate Yashaswini Sahay with her father former Union Minister Subodh Kant Sahay, during an election campaign rally for Lok Sabha polls, in Ranchi on Monday. UNI PHOTO-47U

PANAJI, MAY 6 (UNI):- Polling officials checking and distributing the Electronic Voting Machine (EVMs) and other election related material required for the 3rd Phase General Elections-2024 at the Dr.Shyama Prasad Mukherjee Indoor Stadium, in Goa on Monday. UNI PHOTO-46U