Press Release – 9 September 2026, Chennai

Orange Retail Finance India Private Limited (ORFIL), an RBI‑registered Non‑Banking Financial Company rated ICRA BBB‑ (Stable), announced the successful completion of its first listed Non‑Convertible Debenture (NCD) issuance of ₹50 crore. The issue constitutes the inaugural tranche of a ₹200 crore listed NCD programme for FY27 and is supported by UMI Capital. This issuance forms part of a broader ₹300 crore debt‑fundraising plan that the company intends to deploy during the financial year to fund its growth objectives.

The fundraising aligns with ORFIL’s target to achieve ₹550 crore in assets under management (AUM) in FY27. Management also outlined a five‑year roadmap to scale AUM from the current ₹410 crore to ₹3,000 crore by FY2031, driven by a shift toward secured retail finance products, namely Gold Loans, MSME Loan‑Against‑Property (LAP), and Affordable Housing Loans.

Strategically, the company is transitioning from its legacy two‑wheeler lending portfolio to a predominantly secured retail finance model focused on semi‑urban and rural markets in South India. ORFIL operates 58 branches across Tamil Nadu, Andhra Pradesh, Karnataka, Telangana and Kerala, with disbursements concentrated in Tier‑2 and rural areas where many borrowers are first‑time users of formal credit.

Portfolio quality has improved markedly; gross non‑performing assets (NPA) have fallen from 9.3% as of March 2024 to an estimated 2.1‑2.8% at present. The company’s capital adequacy ratio (CRAR) is reported at 34%, while its latest rating review cites a CRAR of 41%. Women currently represent 35% of the borrower base, and ORFIL aims to double this proportion as it expands its gold‑loan and MSME‑LAP offerings.

Senior management has been reinforced with the appointment of a Chief Financial Officer, Chief Business & Operations Officer, and Chief Risk Officer, collectively bringing over 75 years of experience in banking, NBFCs and development finance institutions. Saravanan Kandan, CFO, stated that the NCD issuance “is the first of several steps to widen our funding base and lower our long‑term cost of capital,” emphasizing disciplined asset‑liability management as the firm pursues its AUM target.

Founder, Managing Director & CEO Ebenezer Daniel G added that completing the listed NCD “is an important milestone in Orange’s transition to a more diversified, capital‑markets‑linked funding base,” reflecting investor confidence in the leadership team and the growth plan anchored in secured, financially inclusive lending.

ORFIL’s technology platforms—ORFLend for loan origination and servicing, and FinMobi for customer applications—support its product suite and expansion strategy.

Media Contacts

  • Saravanan K | Chief Financial Officer, saravanan.k@orangeretailfinance.com
  • Pramod Kamble | Assistant Account Manager, Adfactors PR, pramod.kamble@adfactorspr.com, 8888360559
  • Anushka Mehta | Senior Account Executive, Adfactors PR, anushka.mehta@adfactorspr.com, 9167944956

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