The funds raised will be utilised partly for the acquisition of distressed assets and servicing of debt. This fundraising comes ahead of the repayment obligation of ₹1,250 crore due on June 1, which was borrowed in December 2019 at a lower rate of 11.5%. This is the largest fundraising in over three years for Edelweiss ARC, considering its previous fundraising of ₹1,250 crore in December 2019.