Vivriti Capital has strategically offered a tailored solution under its SCF offerings to help Goldi Group in securing essential raw materials
FinTech BizNews Service
Mumbai, January 18, 2024: Vivriti Capital www.vivriticapital.com, which offers innovative lending solutions to mid-market enterprises in the country, announced its Supply Chain Finance (SCF) partnership with Goldi Group, which comprises solar energy entities, Goldi Solar and Goldi Sun. This move aims to fuel Goldi Group's ambitious expansion plans, with a primary focus on ramping up its installed capacity.
As solar energy plays a pivotal role in India's renewable energy landscape, the Goldi Group remains dedicated to meeting India’s growing clean energy demands. In support of this, Vivriti Capital has strategically offered a tailored solution under its SCF offerings to help Goldi Group in securing essential raw materials.
This unique deal's key proposition is its innovative structure, efficiently meeting Goldi Group's significant financing needs via a single, comprehensive, and one-stop solution approach. Vivriti Capital has addressed the company's long-term financial requirements by introducing a running account facility under the SCF platform, effectively resolving this challenge.
Vivriti's approach not only fosters the growth of a major player in the solar energy industry but also underscores its strong commitment to environmental, social, and governance (ESG) principles.
Rohit Sinha, Head of Supply Chain Finance at Vivriti Capital said, “At Vivriti Capital, our unwavering commitment to ESG principles is reflected in our support for the solar and renewable energy sector. We have a strong appetite for assisting mid-market players, such as Goldi Group, through supply chain finance solutions with substantial and timely exposures, and we're dedicated to breaking through traditional lending obstacles. We aim to continue providing growth working capital precisely when needed and addressing the varied supply chain financing requirements across diversified players through our bespoke arrangements, thus fuelling the aspirations of such players.”
Goldi Group, a renowned name in solar PV panel manufacturing, has been illuminating Gujarat since its founding in 2011. With a robust manufacturing capacity of 3 GW and a global presence in 20+ countries, Goldi Group continues to be a trailblazer in the solar energy sector.
Mr. Bharat Bhut, Co-founder & Director, Goldi Solar Pvt Ltd, said, "Goldi Group foresees a significant contribution to Gujarat's solar energy sector. We are delighted to have Vivriti Capital Ltd (VCL) as our partner on this journey. VCL has provided us with the right solution tailored to our need and it will help us enhance our footprint across India. Their supply chain finance solution will add great value to the requirements of mid-market enterprises in Gujarat, fostering overall growth. We eagerly anticipate the expansion of our partnership with VCL."
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About Vivriti Capital
Vivriti Capital is a fintech NBFC that aims to bring necessary debt finance to hundreds of mid-market enterprises across India. Vivriti Capital over the last 6.5 years has built a highly successful franchise, with Rs 6,800 crores of portfolio, as well as 300+ clients across 35+ sectors and 20+ states. It is currently developing a specialized supply chain financing solution tailored to meet the unique needs of a diverse range of clients for their supply chain financing requirements.
Vivriti’s combined portfolio has witnessed stellar metrics, with industry leading asset quality and return metrics. The Group has raised Rs 1,400 crores of equity since inception.
About Goldi Group
Goldi Solar is India's most quality-conscious solar brand. The company manufactures high-end photovoltaic modules and a range of solar inverters at a competitive price and provides EPC services. Founded in 2011, headquartered in Surat, Gujarat, exporting to several international brands in 20+ countries. We have two facilities consolidating a manufacturing capacity of 3 GW at Pipodara and Navsari in Gujarat. Goldi is listed under all major certifications for both domestic and international markets.
