Kanakadurga Finance Limited is a non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI) as an asset financing company. Incorporated in 1994 as a private limited company to take over the vehicle financing business of proprietary concerns floated by its promoters, it was converted to a public limited company (closely held) in 1996, with its name changed to the current nomenclature in May 2015. The company is primarily engaged in vehicle financing (including commercial vehicles, cars, two-wheelers, and three-wheelers) and gold loans, with a diversified product portfolio. It has demonstrated consistent growth in assets under management (AUM), supported by an experienced management team and adequate management information systems (MIS).
Kanakadurga Finance in talks with private funds to raise equity capital of Rs. 100-125-Crore, appoints Intellecap for its Series B round
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83 weeks ago
South India-based non-banking financial company (NBFC) Kanakadurga Finance Ltd is in talks with private equity funds to raise a Series B equity fund of Rs. 100-Rs. 125 crore. It has appointed Intellecap, an advisory and consulting arm of Aavishkaar Group, for the same.
Kanakadurga focuses on the used commercial vehicle financing across semi-urban and rural geographies. Started in Vijayawada, the company has now expanded across 6 states and one Union Territory, with 154 branches and expected to close the year with Rs 800+ crore AUM.