Capital First rose 2.63% to Rs 548 at 15:16 IST on BSE after the company said its board approved issue of rated, listed, secured, redeemable, non-convertible debentures of Rs 300 crore on private placement basis.
The announcement was made during market hours today, 29 December 2016.Meanwhile, the S&P BSE Sensex was up 169.88 points or 0.65% at 26,380.56.
On the BSE, 30,000 shares were traded on the counter so far as against the average daily volumes of 38,888 shares in the past one quarter. The stock had hit a high of Rs 557 and a low of Rs 534.80 so far during the day.
The stock had hit a 52-week high of Rs 796.25 on 28 July 2016 and a 52-week low of Rs 348 on 29 February 2016. It had underperformed the market over the past one month till 28 December 2016, sliding 3.24% compared with the Sensex's 0.53% fall. The scrip had also underperformed the market in past one quarter, declining 24.32% as against the Sensex's 7.36% fall.
The mid-cap company has equity capital of Rs 97.38 crore. Face value per share is Rs 10.
The debentures are proposed to be listed on the debt segment of National Stock Exchange of India (NSE). The tenure of debentures is 3 years from the date of allotment i.e. 29 December 2016. They carry a coupon of 8.15% payable annually and on the date of redemption.
Capital First's consolidated net profit rose 40.3% to Rs 57.57 crore on 57.6% rise in total income to Rs 686.32 crore in Q2 September 2016 over Q2 September 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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