Glance Finance Ltd Commits Up To Rs 5 Crore as Sponsor of Artha Fund VI AIF
Glance Finance Ltd has committed a contribution of up to Rs 5 crore in one or more tranches, serving as the Sponsor for Artha Fund VI AQF I. This scheme is managed by Artha Trust II and falls under the category of a Category II Alternative Investment Fund (AIF).The investment involves Glance Finance Limited acting as the Sponsor for the AIF. Artha India Holdings Private Limited, formerly known as Artha Energy Projects Private Limited, will serve as the Investment Manager for the fund. The transaction has been structured on an arm's length basis, and promoters of Glance Finance have no financial interest in the investment.
The total obligation commitment from Glance Finance is up to Rs 5 crore. The consideration for the units acquired by the company is cash. The commitment period for this acquisition starts from the date of the First Closing and is set to expire at the end of 60 months from the date of the Final Closing, which is subject to a potential extension of 12 months, as per the discretion of the Investment Manager.
Glance Finance Limited operates as a Non-Banking Finance Company (NBFC) engaged in financial activities such as loans and investment. The company currently emphasizes investment in areas like Shares and Private Equity, alongside Assets Leasing and Revenue Based Financing. Artha Fund VI AQF I is classified as an Alternate Investment Fund.
Stock Price Movement
Glance Finance Ltd settled at ₹172.00 on Wednesday, ticking up +4.81% and gaining ₹7.90 from the previous close. The shares remained completely flat through the trading session, with both the high and low locked precisely at ₹172.00.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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