Capital First rose 1.07% to Rs 773 at 10:10 IST on BSE after the company entered into an investment agreement with Sienna Systems Resources.
The announcement was made after market hours yesterday, 27 April 2017.Meanwhile, the S&P Sensex was down 127.02 points, or 0.42% at 29,902.72. The S&P BSE Mid-Cap index was up 25.19 points, or 0.17% at 14,772.45.
On the BSE, 9,019 shares were traded on the counter so far as against the average daily volumes of 1.11 lakh shares in the past one quarter. The stock had hit a high of Rs 775 and a low of Rs 762.70 so far during the day.
The stock had hit a 52-week high of Rs 809 on 13 April 2017 and a 52-week low of Rs 427 on 28 April 2016.
The mid-cap company has equity capital of Rs 97.42 crore. Face value per share is Rs 10.
Capital First announced that as a part of the strategic investment, the company has entered into an investment agreement on 26 April 2017 with Sienna Systems Resources (Sienna) and the promoter of Sienna to acquire equity shares comprising approximately 8% of the share capital of Sienna and equity share warrants comprising approximately 2% of the share capital of Sienna.
Sienna is the fintech business of building and managing programs based on digital payments and has presence in India. The business activity of the company is in initial stages and started its operations in FY 2016.
The total consideration for acquisition of equity shares and equity share warrants is about Rs 4.25 crore. The proposed investment would facilitate tie ups with such fintech companies and keep a close connect with emerging technologies and collaboration in a positive way.
Separately, Capital First after market hours yesterday, 27 April 2017, announced that the meeting of the debenture committee of the board of directors of the company will be held on 3 May 2017 to consider and approve the private placement of rated, listed, secured/unsecured/perpetual, redeemable, non-convertible securities in the nature of debentures.
Capital First's consolidated net profit rose 37.8% to Rs 61.36 crore on 48.1% increase in total income to Rs 735.95 crore in Q3 December 2016 over Q3 December 2015.
Capital First is a leading financial institution in India focused on providing debt financing to micro small and medium enterprises (MSME) and Indian consumers.
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