Microfinance

Capital Trust Microfinance to raise funds from Taj Capital Partners

Capital Trust Ltd, an NBFC with headquarters in Delhi has announced that it will be raising funds from Taj Capital Partners

The board of Capital Trust in its meeting held on the 21st October 2010 has approved the issue of 13,00,000 convertible warrants to the promoters on preferential basis and 13,00,000 convertible warrants to Taj Capital Partners and their associates on a preferential basis.

The rates at which the allotment has been made has not been disclosed but at it’s current share price of Rs 75, Capital Trust could be raising anywhere between Rs 8 crore to Rs 10 crore.

The Capital Trust Board has also decided to increase the authorised capital of the company from Rs. 10 crore to Rs. 15 crore.A decision to convene an extraordinary general meeting on 18 November 2010 was also passed at the meeting.

Capital Trust,was founded in 1985, and previously had a joint venture with Kinetic Engineering and provided loans to Kinetic Honda customers in Northern India in the early 90’s. In 2009 the company entered the microfinance sector and began disbursing micro loans in Delhi and it’s surrounding areas.

Capital Trust is listed on the Bombay Stock Exchange and it’s share price has risen by more than 600% since December 2009.

capital trust taj

Share price of CAPITAL TRUST LTD on the BSE

Abhay N

Author : 

Abhay is the founder and managing editor of India Microfinance. He is passionate about microfinance, financial inclusion and social entrepreneurship in India.

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