Sustainable Agro-commercial Finance raises Rs 112 cr

Sustainable Agro-commercial Finance Ltd (SAFL), an agriculture-focused non-banking financial company, has raised long-term non-convertible debentures (NCDs) of Rs 70 crore from Mandala Capital. The NCDs are structured as tier-II capital. SAFL has also issued 24 million equity shares of Rs 10 each, raising Rs 24 crore, with a share premium of Rs 18 crore.

Mandala is a fund manager specialising exclusively in investing for the long term in India's fast-evolving food and agribusiness sector.