EV financing NBFC gets Ministry of Corporate Affairs's nod to incorporate new subsidiary

EV financing NBFC Mufin Green has got approval for the incorporation of a subsidiary from the Ministry of Corporate Affairs. 

The new subsidiary has been named Mufin Green Infra Limited, the company said in an exchange filing. According to the company, Mufin Green Infra Limited has been incorporated to establish EV Charging infrastructure/power/energy generating stations, charging stations including, Civil Work, buildings, structures etc. 

The authorised capital of the company is Rs 15 lakh which is divided into 1.5 lakh equity shares of Rs 10 each.

Meanwhile, Mufin Green Finance reported total revenue from operations at Rs 271.78 crore. This is around a 155 per cent YoY rise against the total operational revenue of Rs 106.60 crore in the corresponding period in the previous fiscal. 

The company's total income in the third quarter of the current financial year stood at Rs 272.17 crore, recording a nearly 155 per cent YoY rise against the total income of Rs 106.87 crore in the third quarter of FY22.