Bengaluru-based non-bank financial company Kinara Capital is turning to the equity markets in the hope of raising approximately ₹200 crore from new strategic investors. The goal: to shore up its balance sheet and avert a full‐blown debt crisis.
According to founder and CEO Hardika Shah, the company’s existing investors are “unlikely to infuse new capital right now,” which means the fresh funds must come from external, strategic players. The backdrop to this capital hunt is a much larger debt burden — about ₹1,150 crore (or more, per other reports) of debt that Kinara is actively trying to restructure.
What’s Causing the Trouble?
To understand the urgency, one must look at how Kinara got
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