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AlphaGrep Secures ₹200 Cr for AI Growth
8 Sep
Summary
- AlphaGrep raised ₹200 crore via NCDs at 10.5% interest rate.
- Funds will enhance AI/ML infrastructure and expand retail businesses.
- The company's AUM now exceeds $2 billion across global markets.
Quantitative investment firm AlphaGrep has secured ₹200 crore via secured, redeemable non-convertible debentures (NCDs) with a 10.5% annual coupon rate and a one-year tenure. These securities are slated for listing on the NSE's debt segment.
The significant fundraise, following a CRISIL A+ rating upgrade, will be strategically deployed to strengthen AlphaGrep's artificial intelligence and machine learning infrastructure. The capital infusion also aims to accelerate the expansion of its retail-focused businesses.
AlphaGrep has recently launched three mutual fund schemes and plans further retail fintech ventures. Its global asset management operations, spanning India, GIFT City, the UK, and China, now manage over $2 billion in assets.
