by Suman Gupta
Partners with Credit Fair as Loan Service Providers
Aims to build a separate Rs. 1000 crore loan-book in coming years
Mumbai, 23rd October 2024 : Capri Global Capital Ltd (Capri Loans), a leading non-banking financial company, has launched its Rooftop Solar Finance product under the MSME Loans. The creditor will help individuals and businesses harness the power of solar energy for self-use, paving the way for a more sustainable future.
Capri Solar Finance offers a hassle-free financing solution with no collateral, and minimal documentation. This fastens loan approval time to under five minutes and disbursals are completed in just 4-6 hours. Capri Global has partnered with Credit Fair, a renewable energy fintech, to onboard customers digitally to avail loans ranging from Rs. 50,000 to Rs. 25,00,000 at competitive interest rates, which covers the entire cost of solar modules, inverters, batteries, and installation, making it a comprehensive option for self-use solar projects. Credit Fair will increases assess to credit through its digital platform ensuring a seamless experience.
Emphasizing the company’s commitment to the government’s National Solar Mission, aimed to increase residential rooftop solar capacity by 2027, Mr. Amar Rajpurohit, CBO (MSME Loans) of Capri Global Capital
Ltd stated, “We are keen to be one of the early bird NBFCs in the space of rooftop solar finance. Given the India Rooftop Solar Market size in terms of installed base is expected to reach 34.99 gigawatt by 2029, we feel well positioned to ride the tailwinds of the sector. Capri Solar Finance aims to reach a loan book size of
Rs.1000 crore in the coming years in this business. First phase of rollout will focus on Rajasthan, Madhya Pradesh, and Gujarat, with plans to expand to Delhi, Maharashtra, Uttar Pradesh and Uttarakhand by year- end.”
Explaining the advantage of partnering with Credit Fair, he added, “We are building an ecosystem with India’s major solar panel manufacturers and EPC installers to further accelerate our mission. Credit Fair’s digital platform would drive widespread adoption of solar energy and empower households and businesses in Tier 2, 3, and 4 cities to generate their own electricity, while contributing to India’s solar energy goals. Vendors listed with Credit Fair will be able to avail the benefits of Capri Solar Finance credit. We are making the transition to solar power simple, accessible, and hassle-free for our customers.”
Capri Solar Finance would allow flexible repayment options with a tenure of up to five years for new customers and six years for existing customers of Capri Loans. The loan is available for homeowners, commercial establishments, salaried individuals, MSMEs, and factories seeking to install solar solutions.
About Capri Global Capital Ltd: Capri Global Capital Limited (Capri Loans) is a diversified Non-Banking Financial Company (NBFC) listed on
the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) and is part of the NIFTY Small cap 250
Index. The Company operates in high-growth segments such as MSME Loans, Affordable Housing Finance, Gold Loan, and Construction Finance. The Company also acts as a corporate distributor for car loan products of six leading commercial banks. Capri Loans offers its loan products to the unbanked and underserved masses across Northern and Western geographies of the country, through its strong network of 1000+ branches spread across 12 States and Union Territories. The tech-enabled processes and recently introduced
business analytics ensure that Capri Loans offers products tailored to meet the requirements of borrowers with a solid governance and risk-control framework. Capri Loans enjoys Long Term Rating of AA by Infomerics & Acuite and Short Term Rating of A1+ by Crisil Ratings. CGHFL enjoys Long Term Rating of AA by Infomerics & Acuite. The Company has bagged ‘Best BFSI Brand 2021’ by The Economic Times and received certification as a Great Place to Work from Great Place to Work Institute for 2024-25 for a third consecutive year.
