The obscure NBFC has seen its valuation rise 700% in the last one year and managed to attract marquee investors. How?
By no stretch of imagination is Dhanvarsha Finvest Ltd a company to reckon with. Its revenue came in just under Rs 30 crore in 2020-21, while its net profits shrank 50%. Hardly the stuff to worry competitors or pop up on analysts’ radar.
Yet, it’s a company that has piqued the interest of many in the world of finance.
Last year, despite the pandemic, the Mumbai-based non-banking financial company, or NBFC, managed to raise more than Rs 100 crore in capital, 60% of it coming from foreign investors. It got big names like global investment bank Nomura to buy its …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai