Capital First board okays Rs 340cr pref issue to Caladium Invst

Capital First’s board has approved preferential allotment of 47.8 lakh shares at Rs 712.70 per share to Caladium Investment, an affiliate of Singapore’s Sovereign Wealth Fund – GIC.

Speaking to CNBC-TV18 on the development, Chairman and Managing Director V Vaidyanathan said the company will raise Rs 340 crore via this preferential issue and the transaction is likely to be completed in a month.

He expects capital adequacy ratio to increase to 21.2 percent post the issue, while book value will to increase to Rs 223 from Rs 194 per share.Watch video for more...