Ramesh Dugar, Founder & MD of Dugar Finance
Dugar Finance & Investments Ltd, a non-banking financial company (NBFC) having significant presence in the solar and MSME segments, has raised $3 million in debt from the $75-million Green Basket Bond issued by the Swiss-based impact investment firm Symbiotics Investments.
The bond, which is the second of its kind, was issued by Symbiotics Investments and subscribed to by British International Investment (BII), the UK’s development finance institution and impact investor.
The new funding will strengthen Dugar Finance to expand its presence in the EV financing and rooftop solar financing space, primarily targeting residential as well as MSME customers, including housing societies, in tier-2 and tier-3 cities, a statement said.
Capital infusion
“This capital infusion is more than just a financial commitment—it’s a strong endorsement of our efforts to drive clean energy access and uplift small businesses at the grassroots level. With the support of Symbiotics Investments and British International Investment, we are better equipped to scale our EV and rooftop solar financing solutions across tier-2 and tier-3 cities—where such innovations are both needed and transformative,” Ramesh Dugar, Founder & MD of Dugar Finance, said.
Since its inception, Dugar Finance has made significant strides in promoting EV/ renewable energy solutions. Until now, the company has helped over 1,200 customers adopt rooftop solar solutions and help purchase EV vehicles, resulting in a reduction of around 3,000 tonnes of carbon emissions and annual electricity savings of ₹2.96 crore.
Published on June 16, 2025