Capital First rises on receiving nod to raise Rs 500 cr

Capital First is currently trading at Rs. 623.60, up by 13.50 points or 2.21 per cent from its previous closing of Rs. 611.40 on the NSE.

NBFC firm Capital First executed the allotment of Non-Convertible Debentures on private placement basis today to raise Rs 500 crore. The company has raised Rs 500 crore by issue of NCDs on private placement basis. The company allotted 5,000 NCDs of face value of Rs 10 lakh each in order to raise the amount. Capital First said it will list the NCDs on NSE.

The tenor of the issue is 3 years, with date of allotment on January 17, 2017, while date of maturity is January 17, 2020. The coupon/interest offered will be 8.35 per cent per annum payable annually and on the date of redemption.

Backed by global private equity player Warburg Pincus, First Capital provides financing for different purposes which include MSMEs. As on March 31, 2016, the company has financed more than 2.25 million customers and built loan assets worth Rs 16,041 crore (USD 2.4 billion).

The scrip opened at Rs. 620 and has touched a high and low of Rs. 629.00 and Rs. 620 respectively. So far 51,844 shares are traded on the counter. The stock has a face value Rs. 10. Capital First share price touched a 52 week high of Rs. 797.40 on 28th Jul 2016 and a 52 week low of Rs. 346.20 on 29th Feb 2016.

The promoters holding in the company stood at 64.42 per cent, while Institutions and Non-Institutions held 13.77 per cent and 21.81 per cent respectively.

Capital First is a multibagger stock for this quarter as identified by Dynamic Levels.