Capri Global Capital shares trade on a flat note amid market crash, here's why

Shares of non-banking finance company Capri Global Capital Ltd were trading flat on Friday after the firm said it has raised Rs 2,000 crore through a Qualified Institutions Placement (QIP). The price of the QIP was fixed at Rs 146.50 per share, a discount of 4.8% to the floor price.

Capri Global shares stood 0.63% lower at Rs 173.60 on BSE in early deals today. Market cap of the firm stood at Rs 14348 crore. 

The company issued approximately 136.5 million equity shares to Qualified Institutional Buyers in accordance with SEBI’s ICDR Regulations.

The QIP committee finalise the issue price and approved the allotment of shares to investors June 12. This marks the first QIP by the company in the last decade.

The issue saw a stellar saw a stellar response from foreign and domestic long-only funds, mutual funds and insurance companies, notably Quant Mutual Fund, 3P Investment, BlackRock, Think Investments, Allspring Global Investments, ICICI Prudential Life Insurance, HDFC Life Insurance, ICICI Lombard General Insurance, SBI General Insurance, HDFC Ergo General Insurance, TATA AIF, MK Ventures Capital and many other long-only investors.

Rajesh Sharma, Managing Director, Capri Global Capital Ltd, said, "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."

Shares of Capri Global Capital Ltd ended at Rs 174.60, down by Rs 5.35, or 2.97% on the BSE on Thursday. 

 Meanwhile, Sensex crashed 753 pts to 80,938 and Nifty slipped 234 pts to 24,654 in the late morning deals on Friday as tensions between Iran and Israel escalated after the latter conducted strikes on nuke facility of the Muslims dominated nation.