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Capital First Announces Capital Raising of Rs 340 Crores From Affiliate of GIC, Singapore

MUMBAI, November 11, 2016 /PRNewswire/ —

Capital First announced that it is raising fresh equity capital of Rs 340 crores on a preferential basis at Rs 712.70 per share, (face value of Rs. 10.00 and premium of Rs. 702.70 per share) subject to approval of shareholders. The company will allot 47,80,000 shares to Caladium Investment Private Limited, an affiliate of GIC, Singapore’s sovereign wealth fund.

Post this transaction, the total capital (including Tier 1 and Tier 2 capital) of the company will increase to Rs. 3,263 crores on a consolidated basis and the capital adequacy will increase to 21.6%.

For the recently concluded quarterly results, Capital First Limited reported a profit after tax of Rs. 57.6 crores for Q2FY 17, an increase of 40% from Rs. 41.0 crores in Q2FY 16, which is the highest ever quarterly profit in the history of the company.

The company’s AUM grew 32% to Rs. 17,937 crores as on September 30th, 2016 on a year-on-year basis, with its retail loan portfolio contributing to 90.1% of its overall AUM as of September 30th, 2016. The gross NPA and net NPA of the company stood at 0.98% and 0.45% respectively as on September 30th, 2016 on 120 DPD NPA recognition basis.

Mr. V. Vaidyanathan, Founder and Chairman, Capital First said, “We are delighted to receive a firm proposal from Caladium to become a new shareholder of the company, who will provide growth capital to the company, and we wholeheartedly welcome them. This reaffirms the strong institution built at Capital First over the years in the Indian Financial Services space. Post this transaction the capital adequacy ratio will increase from 19.1% to 21.6%, which will help the company to continue its future growth plans on a strong capital base.”

About Capital First Limited 

Capital First Limited is a NBFC specializing in MSME and consumer financing supported by proprietary credit evaluation methodologies and strong credit scoring platform. The company offers SME loans, loan against property to Indian MSME players and also provides home loans, two-wheeler loans and durable loans to entry and mid-level salaried employees of corporates as well as self-employed individuals. The company has a high long-term credit rating of AA+ by reputed credit rating agencies. The company has a Board comprising of reputed professionals with many decades of rich experience in the financial services sector. As of September 30, 2016, the company has financed over 3 million customers.

About GIC 

GIC is a leading global investment firm with well over US$100 billion in assets under management. Established in 1981 to secure the financial future of Singapore, the firm manages Singapore’s foreign reserves. A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide-range of asset classes, including real estate, private equity, equities and fixed income. GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades. Headquartered in Singapore, GIC employs over 1,300 people across 10 offices in key financial cities worldwide. For more information about GIC, please visit

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