Tata Mutual Fund Invests ₹37 Crore in Mufin Green Finance, Boosting EV Financing Sector
Tata Mutual Fund picks up ₹37 crore in multibagger small-cap stock Mufin Green Finance via bulk deal
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Tata Mutual Fund has acquired a stake worth approximately ₹37.37 crore in Mufin Green Finance, a company specializing in electric vehicle financing. The acquisition, involving 3.3 million shares at ₹113.23 each, has led to a 1.3% rise in the stock price, reflecting growing institutional interest in the electric mobility sector.
- 01Tata Mutual Fund purchased ₹37.37 crore worth of shares in Mufin Green Finance.
- 02The acquisition involved 3.3 million shares at ₹113.23 each.
- 03Mufin Green Finance focuses on financing electric vehicles and related infrastructure.
- 04The company has financed over ₹350 crore in EV assets and expanded into insurance premium financing.
- 05Mufin Green Finance's stock has surged approximately 75.78% over the past year.
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Tata Mutual Fund has made a significant investment in Mufin Green Finance, acquiring 3.3 million equity shares valued at approximately ₹37.37 crore in a bulk deal on April 22, 2026. The purchase price was ₹113.23 per share, resulting in a 1.3% increase in Mufin's stock price to ₹118.47 on the Bombay Stock Exchange (BSE) the following day. Mufin Green Finance is a non-banking financial company (NBFC) that specializes in financing electric vehicles (EVs) and related infrastructure, having financed over ₹350 crore in EV assets. The company has also ventured into insurance premium financing, disbursing around ₹970 crore in loans linked to insurance. Recently, Mufin completed a preferential allotment, raising approximately ₹324 crore through the issuance of equity shares and warrants. This capital will support its expansion plans, with expectations of improved profitability due to rising demand and operational efficiencies. Over the past year, Mufin's stock has delivered impressive returns, rising about 75.78% and achieving a total market capitalization of ₹2,040.67 crore.
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This investment could enhance Mufin Green Finance's capacity to finance electric vehicles, potentially leading to more affordable EV options for consumers and supporting the growth of the EV market.
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