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The Economic Times

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Astranova Mobility arm gets NBFC licence, targets Rs 5,000 cr AUM in 5 years

Astranova Mobility's lending subsidiary, Novafusion Capital, receives approval from the Reserve Bank of India (RBI) to operate as a Non-Banking Financial Institution (NBFC). The firm targets 5000 crore in assets under management (AUM) over the next five years, focusing on India's transition to electric mobility. The company highlights the country's requirement of $100 billion to transition its commercial vehicles to electric mobility.

14 Oct 2026 1:33 pm