Capital First
announced that it is raising fresh equity capital of Rs.178 crores on a
preferential basis at Rs.153.80 per share subject to approval of Shareholders.
The company will
allot 83.6 lac shares for a consideration of Rs.128 crores to Cloverdell
Investment Ltd, an affiliate of Warburg Pincus, and 32.5 lac shares for Rs. 50
crores to HDFC Standard Life Insurance Company Limited.
 |
| V Vaidyanathan, CMD, Capital First |
Post this
transaction, the total Tier 1 capital of the company on a consolidated basis
will increase to Rs.1298 crores. The total capital of the company including
Tier 1 and Tier 2 capital will increase to Rs.1791 crores.
Mr. V Vaidyanathan,
Chairman and Managing Director, Capital First said "We welcome HDFC Life as the new
Shareholders of the company. Post this transaction the Capital Adequacy Ratio
which is already strong at 21.35% as of December 2013 will increase to 24%. The
company grew assets under management by 29% during the twelve month period
ended December 31st, 2013, and this incremental capital will position Capital
First to continue funding its future growth plans. The transaction also
demonstrates the continuing commitment of Warburg Pincus to our Company."
About Capital First
Limited:
Capital First Limited
(CFL) is a systemically important non deposit taking NBFC focused on financing
MSMEs in India and financing consumption which is one of the key drivers of the
Indian economy. Mainly, the company provides Loan against Property for MSMEs.
The company also provides Home loans, gold loans, two wheeler loans, and loans
for Consumer Durables. For the Long Term Rating, the company is rated AA+ by
rating agencies. Capital First has Strong distribution network of 168 branches
and 1085 employees across India covering 40 cities. The Company’s AUM stood at
Rs.9070 crores as on December 31st, 2013.The Gross and Net NPA of the company
is only 0.49% and 0.19% as on December 31st, 2013 respectively. As of the
quarter ending December 31st, 2013, the capital adequacy ratio stood at 21.35%.
For more information, please visit www.capfirst.com.
About Warburg Pincus:
Warburg Pincus is a
leading global private equity firm focused on growth investing. The firm has
more than USD37 billion in assets under management. Its active portfolio of
more than 120 companies is highly diversified by stage, sector and geography.
Warburg Pincus is an experienced partner to management teams seeking to build
durable companies with sustainable value. Founded in 1966, Warburg Pincus has
raised 13 private equity funds which have invested more than USD48 billion in
over 700 companies in more than 35 countries
In India, Warburg
Pincus, along with its affiliates has invested about USD 3.0 billion in Indian
companies. Some notable investments of Warburg Pincus in India include HDFC
Limited, Kotak Mahindra Bank Limited, Max India Limited, Nicholas Piramal
Limited, Bharti Tele-ventures Limited, Ambuja Cements Limited (formerly Gujarat
Ambuja Cements Limited), Metropolis Healthcare Limited and Havells India
Limited. For more information, please visit www.warburgpincus.com.
For more information, please contact:
Pradeep
Natarajan, Capital First Limited, +919967068259, pradeep.natarajan@capfirst.com
Christopher
Charles, Concept Public Relations, 9842475706, charles@conceptpr.com
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