1. Stock in focus: Capital First falls over 5 per cent as Warburg Pincus sells 20% stake

Stock in focus: Capital First falls over 5 per cent as Warburg Pincus sells 20% stake

Non-banking finance company Capital First shares fell nearly 5 per cent intraday on Wednesday after the company informed bourses that Warburg Pincus has sold 20 per cent stake in the company.

By: | Updated: May 17, 2017 4:56 PM
Capital First informed bourses that Warburg Pincus has sold 20 per cent stake in the company.

Non-banking finance company Capital First shares fell nearly 5 per cent intraday on Wednesday after the company informed bourses that Warburg Pincus has sold 20 per cent stake in the company. At 11.21 am, share price of the Capital First was trading 3.44 per cent down at Rs 736.75. The share price of the company opened at Rs 747 and touched a high and low of Rs 749 and Rs 725, respectively, in trade so far. Later, the share price ended 5.12 per cent down at Rs 723.95.

The scrip has touched its fresh 52-week high of Rs 814.80 on May 10, 2017 and 52-week low of Rs 465.10 on November 22, 2016.

In a BSE filing the company said, “In accordance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that, Cloverdell Investment Ltd, an affiliate of Warburg Pincus group and Promoter of the Company has informed us that they propose to sale upto 20 million equity shares held by them in the Company. This amounts to 20% (approx.) of the shareholding of the Company out of their total stake of 61% held in the Company.”

The small-sized non-banking finance company on May 10 reported a 49 per cent rise in net profit at Rs 70.8 crore in March quarter, helped by a healthy growth in net interest income. Its NII for the quarter stood at Rs 476 crore against Rs 305 crore in the year-ago period. The retail loan book grew 33 per cent to Rs 18,353 crore, up from Rs 13,756 crore last year. Gross NPA stood at 0.95 per cent (on 120 days past due compared to 1.08 per cent (on 150 day recognition) in the same quarter last year. Net NPA was at 0.30 per cent (on 120 days recognition) compared to 0.56 per cent (on 150 days recognition) last year.

The NBFC’s assets under management grew to Rs 19,824 crore with its retail loan portfolio contributing to 93 per cent of its overall AUM.

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