MSME financer TruCap Finance makes National Stock Exchange debut

TruCap Finance, a top-tier non-banking finance company (NBFC) catering to the needs of micro, small, and medium enterprises (MSMEs), debuted its equity shares on the National Stock Exchange (NSE).

Previously known as Dhanvarsha Finvest, the BSE-listed entity is now accessible to a larger investor base via one of India’s leading stock exchanges, the NSE. The NSE’s nationwide trading terminals provide convenient trading options for investors across India.

Rohan Juneja — TruCap Finance Managing Director and CEO 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.”

Since its inception, TruCap Finance has supported MSMEs, providing them with the financial resources required for their expansion. From April 2022 to May 2023, the NBFC added 54 branches to its network, bringing its total branch count to 94.

In a strategic move to broaden its services, TruCap Finance, collaborated with five major lenders, including HDFC Bank, DCB Bank, Central Bank of India, Shivalik Small Finance Bank, and UGRO Capital, offering Lending-as-a-Service (L-a-aS).

In a demonstration of its consistent growth and increased activity, TruCap Finance, reported disbursements of Rs. 10.1 billion in FY23, a substantial rise from Rs 4.2 billion in FY22 and Rs 880 million in FY21. This robust growth in disbursements was predominantly driven by MSME Gold and business loans.

The company managed to disburse 94,132 loans during the year, a significant increase from the 53,420 loans in March 2022, averaging nearly 258 loans per working day. With a current active customer base exceeding 65,000, compared to 33,400 in March 2022 and 5,900 in March 2021, TruCap’s loan book by the end of March 2023 was Rs 5.8 billion, witnessing a 90% growth over the previous year.