Capri Global Capital has raised about Rs 2000 crore through Qualified Institutions Placement. In an exchange filing, the company said that it has allotted 13,65,18,770 equity shares to Qualified Institutional Buyers. The company allotted the equity shares at an issue price of Rs 146.50 per equity share, including a premium of Rs 145.50 per equity share.
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The total value of the transaction is Rs 19,99,99,99,805. The company said that the issue was opened on June 9 and was closed on June 12. This is the first time in about ten years that the company has raised capital through a Qualified Institutions Placement.
How will companies utilize the funds?
Rajesh Sharma, Managing Director of Capri Global Capital, said in a statement that besides strengthening its capital base, the company will utilize the funds to capitalise on the emerging growth opportunities. He said the company will focus on expanding its geographical presence, look at key lending opportunities, and invest in AI and data centres.
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Sharma said that the move will open up new avenues to diversify the company’s borrowing and will further solidify their liability franchise. “As we scale responsibly, our focus remains on driving inclusive credit access, higher productivity and efficiency while building a resilient portfolio,” Sharma added.
Who are the key qualified institutional buyers in the issue
Capri Global Capital said that it received an overwhelming response from foreign and domestic institutional investors. The allotees include companies from the mutual funds, insurance sector alternative investment funds to corporate bodies.
Quant Mutual Fund has emerged as the largest allottee in the issue. While Quant Small Cap Fund was allotted 20.46 percent of the total issue, Quant Large Cap Fund got 6.5 percent of the issue.
Other major allottee in the issue includes Societe Generale – ODI, 8.4 percent, ICICI Prudential Life Insurance, 5 percent, and Blackrock Emerging Frontier Master Fund, which was allotted 5.1 percent.
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