<article>NBFC <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Electronica+Finance+Ltd" target="_blank" rel="noopener noreferrer">Electronica Finance Ltd</a>, a Pune-based diversified finance company which provides loans for machinery purchase, has raised Rs 27 crore ($4.2 million) funding.</article>

NBFC <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Electronica+Finance+Ltd" target="_blank" rel="noopener noreferrer">Electronica Finance Ltd</a>, a Pune-based diversified finance company which provides loans for machinery purchase, has raised Rs 27 crore ($4.2 million) funding.
In the process, the company has sold its SME portfolio. The buyer&#8217;s name could not be immediately ascertained.
According to the information available on <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Equirus+Capital" target="_blank" rel="noopener noreferrer">Equirus Capital</a>&#8216;s website which advised the company on the fundaraise, the deal was completed in March 2017.
Equirus Capital confirmed the deal, but declined to comment further while an email query sent to Electronica Finance&#8217;s spokesperson for more information did not elicit a response till the time of filing this article.
Electronica Finance Limited (EFL), a part of the SRP Electronica Group, had raised Rs 25 crore in debt funding last year through the issue of non-convertible debentures (NCDs). The company used the funding for the general corporate purpose.
Initiated in 1990, EFL was amongst one of the first few in the country to be registered as a non-banking finance company (NBFC) to provide loans for machinery purchase. With 33 offices across the country, EFL now caters to a large product portfolio including business loans, working capital loans &amp; industrial property loans.
According to an ASSOCHAM report, NBFCs have scripted a great success story. Their contribution to the economy has grown from 8.4 per cent in 2006 to above 14 per cent in March 2015. In terms of financial assets, NBFCs have recorded a healthy growth—a compound annual growth rate (CAGR) of 19 per cent over the past few years—comprising 13 per cent of the total credit and expected to reach nearly 18 per cent by 2018–19.
In April, <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=International+Finance+Corporation" target="_blank" rel="noopener noreferrer">International Finance Corporation</a> (IFC), the private lending arm of the World Bank Group, agreed to invest Rs 340 crore ($52.6 million) in Mumbai-based NBFC <a style="color: #000080;" href="https://www.dealstreetasia.com/?s=Capital+First+Ltd" target="_blank" rel="noopener noreferrer">Capital First Ltd</a> (CFL).
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NBFC Electronica Finance Ltd, a Pune-based diversified finance company which provides loans for machinery purchase, has raised Rs 27 crore funding.

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Exclusive: Pune-based NBFC Electronica Finance raises $4m funding

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