Pref issue: Niyogin to raise ₹235 cr

Niyogin Fintech (formerly M3 Global Finance), a Mumbai-based NBFC, is planning to raise up to ₹235 crore through preferential issue of shares to a group of marquee investors. The company will use the proceeds to grow its lending book and invest in new technologies. The NBFC will issue preferential shares to marquee investors such as Ward Ferry, Lucky Investment Managers, Sabre Capital, Alchemy Capital and Alchemy India Long Term Fund, among others. Equirus Capital is the financial advisor to the transaction.