Khaitan & Co advised OPL Innovate (Online PSB Loans Limited) on raising funds from National Bank for Agriculture and Rural Development (NABARD) and HSBC Investment Bank Holdings Limited (HSBC).
The Firm advised OPL on all transaction related aspects including drafting, reviewing and negotiating the transaction documents.
The transaction team consisted of Kartikeya Prakash (Partner), Shaktibhushan Shukla (Senior Associate), Samkit Jain (Associate) and Ishita Khanna (Associate).
The company secured approximately ₹80 crore in funding from the National Bank for Agriculture and Rural Development (NABARD) and HSBC. This investment grants NABARD and HSBC a combined 10% equity stake in OPL.
The infusion of capital is intended to drive innovation within digital ecosystems, enhance financial inclusion, and improve access to credit, particularly in underserved and rural areas of India. NABARD's chairman, K Shaji, emphasized the institution's commitment to leveraging technology for sustainable rural development, stating that this partnership represents a significant step towards achieving strategic goals.
OPL is an innovative, fully-integrated digital ecosystem that provides comprehensive financial and credit-needs support to large institutions like banks as well as innovative, customised solutions for the growth and development of small and medium businesses.
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