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Wint Wealth Group has received approval from the Reserve Bank of India (RBI) to acquire a majority stake in Chandigarh-based non-banking finance corporation (NBFC) Ambium Finserve.

The NBFC has already started 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 fixed income investment platform Wint Wealth’s NBFC partners.

Wint Capital’s current loan book is close to Rs 50 crore and expected to grow to Rs 500 crore by the end of 2024. It has raised Rs 8 crore in debt and Rs 63 crore in equity from institutional investors.

The NBFC also plans to offer its listed corporate bonds to retail investors early next year.

“The NBFC licence 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,” said Ajinkya Kulkarni, CEO, Wint Wealth.

So far, Wint Wealth Group has had over 53,000 investors investing in fixed deposits, corporate and sovereign gold bonds, and bond baskets worth over Rs 1,300 crore.

Wint Wealth has raised $22.8 million in equity capital from prominent investors such as Eight Roads Ventures, Billionbrains (Groww), 3one4 Capital, Unitary Fund, Blume Ventures, AngelList, as well as prominent founders such as Zerodha founder Nithin Kamath, Cred founder Kunal Shah and Groww founder Lalit Keshre.

Wint Wealth joins Jupiter, Cred and Groww, which got a fresh licence, or used the acquisition route to get one.

  • Published On Nov 23, 2023 at 08:14 AM IST

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