BlackOpal Group gets NBFC License, dilutes minority stake & raises $1.5M

New Delhi, March 10 : Asset management company BlackOpal will diversify into specialised lending with RBI approving its proposal for grant of NBFC licence.
The company proposes to operate the financing activity under a separate SPV of the group, BlackOpal Financial Services Pvt Ltd.
As pert of its plan to start the NBFC, the company has already raised $ 1.5 million for minority stake dilution.
The company plans to use 50 per cent of funds in retail and another half in real estate projects.
“NBFC will focus on bridging the financial gap for the SMEs/ retail and wholesale lending businesses and will be fully integrated with the asset management business of BlackOpal,” said BlackOpal Founder Prasoon Chauhan.
The company is also planning to raise $ 5-7 million in the next one year and is targeting a book size of $ 15-17 million by the end of 2022.