Capital First continues to raise funds through NCDs
DSIJ Intelligence / 06 Apr 2017
Capital First has issued non-convertible debentures (NCDs) of Rs 500 crore. The debenture committee has passed resolution on April 5 for capital raising by the company.
Capital First has issued non-convertible debentures (NCDs) of Rs 500 crore. The debenture committee has passed resolution on April 5 for capital raising by the company. It has approved allotment of 5000 NCDs having face value of Rs 10 lakh each.
At the same time, the board members of Capital First also raised money through green shoe option of Rs 200 crore on a private placement basis. Its bond comes with two options having a tenure of three years and five years with coupon rate of 8.35 per cent and 8.40 per cent, respectively.
The company will utilise funds raised through NCDs for business growth.
On the financial front, Capital First’s revenue increased 47.53 per cent to Rs 717 crore in Q3FY17 on a yearly basis. The company’s operating profit too rose by 31.55 per cent to Rs 389 crore in Q3FY17 as compared to same period in previous fiscal. Its net profit boosted by 33.17 per cent to Rs 55.73 crore in Q3FY17 on a yearly basis.
The stock price of Capital First increased 1.53 per cent in early trade, and is trading at Rs 772.8 on an intraday basis.
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