Tata Mutual Fund Invests ₹37 Crore in Mufin Green Finance through Strategic Bulk Deal

Tata Mutual Fund Invests ₹37.37 Crore in Mufin Green Finance

In a significant bulk deal, Tata Mutual Fund acquired a stake worth around ₹37.37 crore in Mufin Green Finance, indicating institutional interest in the emerging electric vehicle (EV) financing space. The mutual fund purchased 33,00,000 equity shares of the company on April 22, 2026, at a price of ₹113.23 per share.

Following the transaction, the stock rose 1.3% to its day's high of ₹118.47 on the BSE on April 23. Mufin Green Finance is a listed non-banking financial company focused on financing electric mobility and related infrastructure. Its portfolio includes loans for electric two-wheelers, three-wheelers, and four-wheelers, along with charging infrastructure and associated assets.

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The company primarily caters to retail customers, fleet operators, and small businesses, with a strong presence in Tier 2 and Tier 3 markets. To date, it has financed EV assets worth over ₹350 crore. Alongside its core EV financing business, the company has been expanding into insurance premium financing — an emerging segment within the NBFC space.

Mufin Green Finance has completed a preferential allotment, raising about ₹324 crore through the issuance of equity shares and warrants. The company allotted 2,49,30,765 equity shares of face value ₹1 each at an issue price of ₹98 per share, along with 76,53,061 warrants priced at ₹98 apiece.

These warrants are convertible into equity shares at a later stage, subject to regulatory norms. The fundraise saw participation from a mix of institutional investors, high-net-worth individuals, and promoter entities, including Hindon Mercantile. Key investors included Sageone Capital, Sandeep Kapadia, DS Group, and MMG family office.

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Following the allotment, the company's paid-up equity share capital increased from ₹17.32 crore to ₹19.82 crore. Managing Director Kapil Garg commented on the development, stating that the fresh capital would support expansion plans and help the company capitalise on rising demand.

He added that improved disbursements, operational efficiencies, and favourable market trends are expected to drive growth, with profit after tax likely to strengthen in the coming periods. Mufin Green Finance has delivered strong returns, with the small-cap stock rising approximately 75.78% over the past year, outperforming the largely flat movement in the Nifty 50 during the same period.

The company, which got listed on the NSE on November 6, 2023, currently has a total market capitalisation of ₹2,040.67 crore. It has soared 74% in the last 1 year and has given multibagger returns, surging 3400% in 5 years. It has also been on an uptrend in the near term, advancing 18% in 1 month and 23% in 6 months.