Capri Global Capital plans to raise ₹500 crore through the issue of non-convertible debentures. The issue consists of base issue size of ₹100 crore, with a green shoe option of ₹400 crore.
The company, which derives 40 per cent of its revenue from gold loans and 20 per cent from MSMEs, has set a target to raise ₹2,000 crore through NCDs in this fiscal.
The first tranche of the NCD issue offers investors multiple tenure options of 24 months, 36 months, 60 months and 120 months, with monthly and annual interest pay-out choices and coupon rates of up to 9.50 per cent per annum. The NCDs will be listed on both the NSE and BSE platforms. The issue will remain open for subscription between April 15 and 28.
Rajesh Sharma, Managing Director, Capri Global Capital, said the company offers a range of secured and collateralised loans for MSME, housing, gold and construction finance.
The company has not experienced any major impact of the ongoing West Asia war on its lending books, but expects a slowdown from industries dependent on LPG, he said.
As far as gold loans are concerned, he said the recent fall in gold prices has not triggered margin calls in the form of extra cash or gold as the company sticks to a loan-to-value of 60 per cent.
India has experienced a lot of economic disturbance in the last decade, starting with the Covid pandemic to the current West Asia war, but the economy has bounced back strongly once the dust settled, he said.
The company has adopted an AI-driven processing system to reduce human bias in lending decisions and has a strong alert mechanism both in lead generation and the collection mechanism, said Sharma.