Shares of Capital First has surged 17% to Rs 183, also its 52-week high on the Bombay Stock Exchange (BSE), on back of heavy volumes.
The stock opened at Rs 158 and has seen a combined 36,356 shares changing hands on the counter till 0950 hours. An average sub 20,000 shares were traded daily in past two weeks on the BSE and NSE.
Non-banking finance company Capital First has called an Extra-ordinary General Meeting on Friday, March 28, 2014 to take shareholders approval for issue and allotment of equity shares on preferential basis.
Capital First is raising Rs 179 crore from an affiliate of US-based private equity firm Warburg Pincus and HDFC Standard Life Insurance Company.
Capital First will allot 8.36 million shares to Warburg Pincus affiliate Cloverdell Investment for Rs 129 crore and 3.25 million shares to HDFC Standard Life for Rs 50 crore, it has said in a filing with the BSE.
The preferential issue will increase Warburg Pincus' holding in the company to 72% while HDFC Life will get 4% stake. In June 2012, Warburg had acquired the Future Group's 42.73% holding in Capital First.
The stock opened at Rs 158 and has seen a combined 36,356 shares changing hands on the counter till 0950 hours. An average sub 20,000 shares were traded daily in past two weeks on the BSE and NSE.
Non-banking finance company Capital First has called an Extra-ordinary General Meeting on Friday, March 28, 2014 to take shareholders approval for issue and allotment of equity shares on preferential basis.
Capital First is raising Rs 179 crore from an affiliate of US-based private equity firm Warburg Pincus and HDFC Standard Life Insurance Company.
Capital First will allot 8.36 million shares to Warburg Pincus affiliate Cloverdell Investment for Rs 129 crore and 3.25 million shares to HDFC Standard Life for Rs 50 crore, it has said in a filing with the BSE.
The preferential issue will increase Warburg Pincus' holding in the company to 72% while HDFC Life will get 4% stake. In June 2012, Warburg had acquired the Future Group's 42.73% holding in Capital First.