Quantitative investment management firm AlphaGrep has raised Rs 200 crore through a follow-on issue of secured, redeemable non-convertible debentures (NCDs), taking its total NCD funding to Rs 400 crore.
The follow-on issue was launched less than a month after the company's initial Rs 200-crore NCD issue, which was subscribed by more than 15,000 investors in under two weeks, AlphaGrep said in a statement on Wednesday.
The company said the latest issue was launched in response to strong investor demand, including from mass affluent investors, family offices and high-net-worth individuals.
The proceeds will be used to accelerate the firm's artificial intelligence and machine learning research and infrastructure and expand its retail-facing business in India.
AlphaGrep's quantitative mutual fund business has launched three schemes in India, with more products in the pipeline.
"The demand we saw for our first issue far exceeded our expectations. It is a strong endorsement of our business model and of the discipline with which we run the firm," AlphaGrep Managing Director and CEO Mohit Mutreja said.
The company also plans to introduce products, including GIFT City-based offerings and market-linked debentures (MLDs) to expand its product portfolio, he added.
AlphaGrep also runs asset management operations across India, GIFT City, the UK and China, and manages assets of more than USD 2 billion globally.
Published on September 30, 2026
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