Wint Wealth Group Launches Its NBFC Operations

Updated on: 24 November 2023 9:30 pm

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Wint Wealth Group has received approval from the Reserve Bank of India for a majority stake acquisition in Chandigarh-based NBFC Ambium Finserve Pvt Ltd. Post-acquisition, the NBFC has already started its wholesale lending operations under the brand name Wint Capital.

The primary focus of Wint Capital will be lending to growth-stage NBFCs for onward lending in their business lines. It will also extend some retail loans jointly with Wint Wealth Group’s NBFC partners. Wint Capital’s current loan book is close to Rs 50 crore and is expected to grow to Rs 500 crore by the end of 2024.

The investment firm said in its statement that it has raised Rs 8 Crore in debt and Rs 63 Crore in equity from institutional investors and will continue to explore meaningful deals to expand its loan book. The NBFC also plans to bring its listed corporate bonds to retail investors early next year.

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Expressing his thoughts on the development, Ajinkya Kulkarni, co-founder, and CEO of Wint Wealth, said, “At Wint Wealth Group, our every action is guided by a single objective, i.e., to strengthen the trust of our retail investors, NBFC partners, regulators, and other stakeholders. The NBFC license will open many new avenues of innovation for us as we can now bring corporate bonds from Wint Capital to better address the needs of our retail investors. These bonds, along with our existing offerings in the fixed income space, will help retail investors build a more robust financial portfolio.”

So far, Wint Wealth Group enabled over 53,000 investors to invest in fixed deposits, corporate and sovereign gold bonds, and bond baskets worth over Rs 1300 crore. The group has garnered support from prominent investors, including Eight Roads Ventures, Billion Brains, 3one4 Capital, Unitary Fund, Blume Ventures, AngelList, as well as industry leaders such as Nitin Kamath (Co-Founder, Zerodha and Rainmatter Foundation), Kunal Shah (Founder, CRED), Lalit Keshre (Co-Founder and CEO, Groww), among others.