Systematix Corporate hits life high on raising Rs 103 cr via preferential issue

Systematix Corporate Services (SCSL) informed that it has raised Rs 103.12 crore through preferential allotment of equity shares at Rs 1,531 per share.

The raised funds will be strategically invested to drive key initiatives across Systematixs diverse business verticals. The company plans to launch two new alternative investment funds (AIFs) specifically category I and category III to broaden investment opportunities and attract a diverse range of investors to scale the margin trading book, Institutional and HNI/Retail broking divisions.

The company plans to accelerate its investment banking (IB) and equity capital markets (ECM) businesses to capture emerging market opportunities.

Nikhil Khandelwal, MD, SCSL, said, This fundraise marks a critical milestone in our evolution. It empowers us to accelerate growth initiatives to achieve our vision of creating one of the most admired India focused financial services companies. We see Systematix transforming its capabilities in ECM and IB, accelerate growth of our PMS and Brokerage businesses, while capitalise new growth initiatives in Alternate Investment Funds (AIFs) and Wealth management. All of this ties with our thesis of being lifecycle partner to our clients.

Systematix Corporate Services is registered as category I Merchant banker with Security Exchange Board of India (SEBI) and primarily engaged in Merchant Banking Activities.

The companys consolidated net profit slipped 60.7% to Rs 1.74 crore in Q1 FY25 as against Rs 4.43 crore posted in Q1 FY24. Total income jumped 50.2% YoY to Rs 30.50 crore in June 2024 quarter.

The scrip added 0.74% to currently trade at Rs 1,622 on the BSE. The counter hit an all-time high of Rs 1,688 in todays intraday session.

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