Niyogin Secures INR 56.2 Cr Via Conversion Of Warrants Into Equity

Listed fintech major Niyogin Fintech has successfully raised INR 56.2 Cr through the conversion of previously issued warrants into equity shares.

The conversion saw participation from prominent investors, including MK Ventures, Aionios Alpha Investment Management, Ashika Group and Niyogin’s cofounder Amit Rajpal. 

These investors had initially contributed INR 19.2 Cr as an upfront commitment at the time of subscribing to the warrants.

Following this conversion, Niyogin issued 1,64,40,011 equity shares at INR 45.62 per share, securing the remaining funds.

It is pertinent to note that warrants are financial instruments that give investors the right (but not the obligation) to buy a company’s shares at a fixed price in the future. 

Investors usually pay an initial amount to acquire warrants and later pay the remaining amount to convert them into shares.

Niyogin is the brainchild of two friends, Amit Rajpal and Gaurav Patankar. Though it did not start directly under their names but emerged after the acquisition of M3 Global Finance Ltd in 2017. 

Niyogin is a non-banking finance company (NBFC) that provides financial services to micro, small, and medium enterprises (MSMEs) across India.

Niyogin Fintech Limited (NFL) has outlined ambitious growth plans across its business segments, focusing on both financial and technological expansion.

Niyogin aims to grow its NBFC lending book to INR 500-550 Cr by FY26 and INR 750-800 Cr. by FY27. It also projects the estimated lending RoE of 6-6.5% by FY26 and over  14.5% by FY27.

 In the tech infrastructure segment, Niyogin expects net revenue growth of more than 150 Cr by FY27. Here it also anticipates EBITDA margins between 18% and 20% by FY27.

On the development, Niyogin MD and CEO Tashwinder Singh said, “The proceeds from this subscription will be utilized to scale our lending book and further strengthen our balance sheet. We remain committed to executing our FY26 and FY27 guidance.”

“We are deeply grateful to our investors for their trust in Niyogin and their continued support through the successful warrant subscription. In today’s challenging market environment, this strong response underscores confidence in our growth strategy and future potential,” Singh added.

Last year in May it acquired Shark Tank fame enterprise tech startup Orbo’s AI platform  SuperScan which is focused on the banking, financial services and insurance (BFSI) sector. 

Shares of Niyogin ended Friday’s trading session 1% up at INR 47.13 on the BSE.