The fund offers capital backed by hard asset collateral and structured for regular coupon payments, targeting 25β30 investments in the range of INR 150β300 crore each.
NSCOF-II is designed to offer bespoke credit solutions to EBITDA-positive companies, with a focus on fully secured investments backed by 2-3x hard asset collateral and bearing regular interest coupons.
The five international financial institutions involved in this significant transaction include BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation.
The newly acquired funds will be directed towards expanding Neo's wealth management division and bolstering its asset management business, as per the company statements.