Capri Global Capital Announces NCD Allotment

Capri Global Capital Limited , a financial services company, has announced the allotment of Non-Convertible Debentures (NCDs) worth Rs. 20 crore.

Key Details of the NCD Allotment

Security and Structure

The debentures are secured by a first ranking pari passu floating charge over hypothecated assets, providing additional security to the investors.

Impact and Implications

This NCD allotment by Capri Global Capital could have several implications:

1. Capital Raising: The Rs. 20 crore raised may support the company's short to medium-term financial needs.

2. Debt Profile: The 18-month tenure could help in managing the company's medium-term debt profile.

3. Investor Interest: The 8.90% coupon rate might attract investors looking for stable, fixed-income opportunities.

4. Market Perception: Successful debt raising can be seen as a positive sign by the market.

Conclusion

Capri Global Capital's decision to issue NCDs worth Rs. 20 crore demonstrates the company's ability to access the debt market for its financial needs. This move represents a significant financial decision for the company.

Investors and market watchers may want to monitor how the company utilizes these funds and the subsequent impact on its business operations and financial performance.

Capri Global Capital Limited (CGCL) has announced a strategic move into the insurance sector with the establishment of a new wholly-owned subsidiary, Capri Global Insurance Brokers Private Limited (CGIBPL). This development marks an expansion of CGCL's business portfolio, diversifying its operations beyond its current focus areas.

Key Details of the New Subsidiary

Scope of Operations

The new subsidiary is set to engage in a range of insurance-related activities:

1. Insurance Broking: Acting as a direct broker, re-insurance broker, and composite broker for various types of insurance including life, general, health, motor, marine, and specialty insurances.

2. Advisory Services: Providing consultancy and intermediation services for individuals, corporates, and institutions.

3. Representation: Acting on behalf of clients in negotiations with insurers, reinsurers, underwriters, and regulatory authorities.

4. Training and Development: Organizing training programs, workshops, and e-learning platforms for distribution personnel and clients in the insurance ecosystem.

5. Technology Integration: Developing and managing software, technology platforms, and digital solutions for insurance broking, advisory, and claims management.

Regulatory Compliance

CGIBPL plans to obtain and maintain necessary registrations, approvals, and licenses from the Insurance Regulatory and Development Authority of India (IRDAI) and other relevant authorities. The company aims to comply with all applicable regulations in the insurance sector.

Strategic Implications

This move into insurance broking represents a diversification for Capri Global Capital Limited. By establishing a presence in the insurance sector, CGCL aims to expand its financial services portfolio and potentially create synergies with its existing business lines.

The expansion into insurance broking could open up new revenue streams for CGCL and position the company to capitalize on the insurance market in India. As the subsidiary begins operations, it will be interesting to observe how this strategic move impacts CGCL's overall business performance and market position in the financial services sector.