EV Finance Company Mufin Green Finance Hit 5% Upper Circuit After Budget

The stock market has seen a good rally today and the shares of Mufin Green Finance, an EV finance company were registering a surge of about 5 per cent.

The share has reached a 52-week high of Rs 242.30 with a gain of Rs 11.50. The 52-week low of shares of Muffin Green Finance is Rs 108. In the last 5 days, the shares of Mufin Green Finance Limited have reached the level of Rs 242 from the level of Rs 219, giving a return of 11 per cent to the investors. Its market cap is Rs 3730 crore. This mainboard stock has a trade volume of 2,23,000 on Friday.

Earlier, the company board announced issuing convertible warrants to select investors. The committee of directors for preferential issue of the Mufin Green Finance in their meeting held on December 27, 2023 approved the allotment of 2,55,00,000 warrants convertible into equity shares of the company, in one or more tranches, having face value of Re 1 each, at a price of Rs 55 apiece.

Mufin Green Finance provides financing solutions for the EV ecosystem of the country by providing loans for income generation through electric vehicles, electric charging infrastructure, and swappable batteries. It has disbursed more than Rs 350 crore so far towards electric vehicles.

"In terms of Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, February 14, 2024, inter-alia to consider and approve the Un-Audited Standalone and Consolidated Financial Results of the Company for quarter ended 31st December, 2023," said Mufin Green Finance in a stock exchange filing.

This NBFC stock is available for trade on both NSE and BSE.