Capri Global bags investment from Prashant Jain, Madhu Kela in Rs 2,000 cr QIP
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Ace investors Prashant Jain and Madhusudan Kela have invested in Capri Global Capital through their respective investment firms, joining a diverse pool of institutional participants in the company's recently concluded Rs 2,000-crore Qualified Institutions Placement (QIP).Jain's 3P Investment Managers, through its Category-III Alternative Investment Fund, invested Rs 150 crore in the financial services company. Meanwhile, MKVentures Capital , a non-banking finance firm promoted by Kela, also participated in the fundraising with an undisclosed amount.The investment comes as Capri Global announced the successful completion of its QIP on June 16.The company raised Rs 2,000 crore by issuing approximately 136.5 million equity shares to Qualified Institutional Buyers (QIBs), in line with SEBI's ICDR Regulations. The pricing and allotment were approved by the QIP Committee, authorised by the company's Board of Directors at its meeting held on June 12.This marks Capri Global's first QIP in nearly a decade. The issue witnessed strong demand from both foreign and domestic institutional investors, including long-only funds, mutual funds, and insurance companies.Apart from Jain's 3P Investment and Kela's MKVentures, other notable participants in the offering included Quant Mutual Fund, Abakkus Asset Management, BlackRock, Societe Generale – ODI, Allspring Global Investments, ICICI Prudential Life Insurance, HDFC Life Insurance , ICICI Lombard General Insurance, SBI General Insurance, HDFC Ergo General Insurance, PNB MetLife Insurance, and TATA AIF.Also read: Raamdeo Agrawal predicts 3 lakh Sensex target, multibagger strategy and 4 investment themes According to the company, the overwhelming response from long-term institutional investors is a testament to the market's confidence in Capri Global's business strategy, execution capabilities, and growth outlook. The funds raised through the QIP are expected to bolster the company's capital adequacy and support future expansion plans across its lending verticals.'The successful QIP marks a significant milestone in the Company's growth journey. The capital raised will enable us to capitalise on growth opportunities across key lending verticals, expand our geographical presence, invest in AI & data science capabilities and strengthen our capital base. This will also open up new avenues for us to diversify our borrowings and further solidify our liability franchise,' said Rajesh Sharma, Managing Director of Capri Global Capital.He added, 'As we scale responsibly, our focus remains on driving inclusive credit access, higher productivity and efficiency while building a resilient portfolio. We are encouraged by the continued trust of our existing shareholders and welcome the new shareholders. We remain committed to deliver a robust financial performance and create long-term value for all our stakeholders."Capri Global Capital Ltd, which operates under the brand 'Capri Loans,' is a non-banking financial company (NBFC) engaged in offering credit to underserved segments, including MSMEs, affordable housing, and gold loans. The company has been expanding its footprint and diversifying its lending portfolio in recent years.Shares of Capri Global Capital were trading flat at Rs 170.70 on the BSE around 1 pm.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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