Mumbai : TruCap Finance Ltd., formerly known as Dhanvarsha Finvest Limited, a non-banking finance company (NBFC), a BSE listed entity, focused on micro, small, and medium enterprises (MSMEs) has listed its equity shares on the National Stock Exchange (NSE) today. As one of India’s leading stock exchanges, the NSE operates nationwide trading terminals, facilitating convenient trading for investors across the country.
Mr. Rohan Juneja, Managing Director and CEO of TruCap, said “We are delighted to announce our company’s listing on the National Stock Exchange, marking an important milestone in our journey. We believe this announcement will open up opportunities for more investors to be a part of our growth story. We remain committed to delivering value to all our stakeholders, including our customers, employees, shareholders, and the communities in which we operate.”
TruCap specifically caters to the financing needs of MSMEs. The company’s objective is to empower these enterprises by providing them with the necessary financial resources to grow and thrive. TruCap opened 54 branches from April 2022 until May 2023 taking the total count to 94. It has tied up with five large lenders – HDFC Bank, DCB Bank, Central Bank of India, Shivalik Small Finance Bank and UGRO Capital under Lending-as-a-Service (L-a-a-S).
During FY23, TruCap reported disbursements of Rs. 10.1 billion up from Rs 4.2 billion FY22 and Rs 880 million in FY21. Robust disbursement growth was driven largely by MSME Gold and business loans. The NBFC dispersed 94,132 loans in the year, up from 53,420 loans in March 2022, averaging close to 258 loans made per working day. Total active customer accounts, which was 5,900 in March 2021 and 33,400 in March 2022, is excess of 65,000 customers as on date. TruCap’s total loan book at the end of March 2023 was 5.8 billion, up 90% over the last one year.
