Capital First vaults on fund raising proposal

Capital First rose 3.5% to Rs 765 at 12:09 IST on BSE after the company scheduled a board meeting on 5 April 2017 to consider issue of non-convertible debentures.

The announcement was made after market hours yesterday, 30 March 2017.

Meanwhile, the S&P Sensex was down 73.08 points, or 0.25% at 29,574.34. The S&P BSE Mid-Cap index was up 74.67 points, or 0.53% at 14,060.19.

On the BSE, 51,000 shares were traded on the counter so far as against the average daily volumes of 1.05 lakh shares in the past one quarter. The stock had hit a high of Rs 778.95 and a low of Rs 740 so far during the day.

The stock had hit a 52-week high of Rs 796.25 on 28 July 2016 and a 52-week low of Rs 411 on 1 April 2016. The stock had outperformed the market over the past one month till 30 March 2017, advancing 10.67% compared with the Sensex's 3.15% rise. The scrip had also outperformed the market over the past one quarter advancing 29.05% as against the Sensex's 11.35% rise.

The mid-cap company has equity capital of Rs 97.42 crore. Face value per share is Rs 10.

Capital First said that the meeting of the debenture committee of the board of directors of the company will be held on 5 April 2017, to consider and approve the private placement of rated, listed secured/unsecured/redeemable, non-convertible securities in the nature of debentures.

Capital First's consolidated net profit rose 37.8% to Rs 61.36 crore on 48.1% increase in total income to Rs 735.95 crore in Q3 December 2016 over Q3 December 2015.

Capital First is a leading financial institution in India focused on providing debt financing to micro small and medium enterprises (MSME) and Indian consumers.

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