Capri Global Capital to raise Rs 4,000 crore for operations

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Chennai, June 5 (IANS) Focused on the micro, small and medium enterprises and affordable housing segments Capri Global Capital group is planning to raise about Rs 4,000 crore funds from banks, mutual funds and others this year, a top company official said.

“We are targeting a business growth of 60 per cent for our listed non-banking finance company (NBFC) business under Capri Global Capital Ltd and touch a book size of Rs 4,600 crore. Similarly, we are targeting to touch a book size of Rs 1,150 crore for our housing finance subsidiary,” Rajesh Chandra Sharma, Director, Capri Global Capital told IANS over phone from Mumbai.

“We are planning to raise about Rs 3,000 crore from banks, mutual funds and others for deployment by the NBFC. The average cost of for Capri Global Capital is between 9.25 and 9.50 per cent,” he said.

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At the end of last fiscal Capri Global Capital’s assets under management (AUM) was Rs 2,859.66 crore.

Asked about raising funds from securitisation of its loan accounts Sharma said the company’s priority is to build its loan book size as there is adequate capital.

Speaking about the lending to MSME segment, Sharma said nearly 70 per cent of the Capri Global Capiral’s lending portfolio consists of borrowers from that segment and the remaining 30 per cent is construction sector.

According to him the construction sector growth is static while the company lends around Rs 10 crore per project.

On the housing finance company Sharma said Capri Global Housing Finance may get refinanced between Rs 50-100 crore from National Housing Bank (NHB) soon.

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The housing finance company may raise a debt of about Rs 1,000 crore this year from banks and others, he said.

The housing finance company is looking at lending about Rs 900 crore this fiscal. At the end of last fiscal its book size was over Rs.246 crore.

“The company’s core focus is to lend for the affordable housing segment – the first time home buyers — where the average ticket size is around Rs 15 lakh,” Sharma said.



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