Ashika Credit Capital Shareholders Overwhelmingly Approve Merger with Yaduka Financial Services
Shareholders of Ashika Credit Capital Limited (ACCL) overwhelmingly approved the proposed amalgamation with Yaduka Financial Services Limited, with 99.99% of votes in favor. The special meeting, held on August 16, 2025, was conducted via video conferencing as per NCLT directions. The merger, with an appointed date of October 1, 2024, is subject to NCLT and other regulatory approvals. The e-voting process was facilitated by NSDL, with 52.10% of shareholders participating.
02Aug 25
Ashika Credit Capital Reports No Fund Utilization Deviations, Reclassified as NBFC-Middle Layer
Ashika Credit Capital Limited (ACCL) has been reclassified as an NBFC-Middle Layer entity due to its consolidated asset size exceeding Rs. 1,000 crore. The company reported a total revenue of Rs. 6,989.99 crore and a net profit of Rs. 5,060.58 crore. ACCL has utilized funds from its preferential issue for investments, repayments, and working capital. The company is acquiring an additional 24.5% stake in its subsidiary Ashika Private Equity Advisors Pvt Ltd and exploring opportunities in the insurance business. ACCL has also established a new corporate office in Mumbai and converted 50,82,664 warrants into equity shares.
02Aug 25
Ashika Credit Capital Reports Q1 Results, Reclassifies as NBFC-Middle Layer
Ashika Credit Capital Limited (ACCL) reported a consolidated net loss of Rs 5,147.87 lakhs for Q1 FY24, with total revenue at Rs 429.01 lakhs. The company has been reclassified as an NBFC-Middle Layer due to asset size growth. ACCL is increasing its stake in subsidiary Ashika Private Equity Advisors to 75.50% and exploring insurance business opportunities. The company raised Rs 116.63 crores through warrant conversion, utilizing funds for investments, debt repayment, and working capital.