Capri Global Capital shares rallied 6% to hit a 52-week high of ₹272 apiece on Thursday, September 3, following the successful completion of its first-ever US dollar bond issuance. As per CNBC TV18, the stock has soared 46% from the beginning of the year, with total market capitalisation of ₹26,064.75 crore according to NSE data. The shares were trading at ₹270.9 apiece on the National Stock Exchange, rising 5.57% at 1:02 PM on the day of the announcement. Over a month's time, the stock has gained 19%, while it has jumped 78% in the last six months, demonstrating strong investor confidence in the NBFC's growth trajectory.
India's Capri Global Capital has successfully completed its first-ever US dollar bond issuance, raising $300 million through 3-year-3-month senior secured notes maturing in 2029. The transaction was managed by a consortium of global banks comprising Barclays, Citi, Deutsche Bank, Emirates NBD and UBS, with the bonds priced at a coupon of 7.55% per annum. As per CNBC TV18, the issue was oversubscribed by over 2.3x with an order book exceeding $700 million, demonstrating strong investor appetite for the sub-investment-grade NBFC's debut offering. The transaction saw one of the highest allocations to global real money investors, with 64 high-quality accounts participating in the oversubscribed issue.
The bond issuance attracted significant global institutional interest, with global investors accounting for 96% of the total allocation. According to CNBC TV18, the US contributed 49% of the allocation, followed by Asia at 39% and Europe, West Asia and Africa (EMEA) at 12%. The transaction saw one of the highest allocations to global real money investors, with asset and fund managers receiving 91% of the bonds, while insurance companies accounted for 5% and banks, private banks and other investors made up the remaining 4%. This strong demand reflects improved market conditions for non-banking financial companies in the dollar bond market, with investors showing willingness to accept higher yields for lower-rated borrowers.
Moody's Ratings has assigned a 'Ba3 long-term foreign currency senior secured' rating to the senior secured USD notes issued by Capri Global Capital Limited under the Capri US$1.0 billion Global Medium Term Note Programme (GMTN Programme), established by the Company, which is rated (P)Ba3, pursuant to Regulation S and Rule 144A of the U.S. Securities Act of 1933. Rajesh Sharma, Managing Director of Capri Global Capital, expressed satisfaction with the successful fundraising, stating that "The strong response from marquee international investors is a validation of our credit strength and business model, allowing us to successfully diversify our funding sources across domestic and global pools of capital." As reported by CNBC TV18, Sharma emphasized that "The success of this issuance provides greater diversification across domestic and international sources of funding, reinforcing Capri Global's commitment to sustainable expansion." The issuance gives Capri Global access to dollar-denominated funding and adds an international source of capital to its existing funding mix.
Capri Global Capital reported exceptional financial performance in Q1 FY27, with consolidated profit jumping more than two-fold to ₹353 crore during the quarter ended June, compared to ₹175 crore in the year-ago period. According to CNBC TV18, the company's total income rose to ₹1,581 crore in the first quarter of the current fiscal year compared to ₹1,005 crore in the year-ago period. Interest income increased to ₹1,323 crore in the reporting quarter from ₹806 crore a year earlier, while net interest income improved to ₹736 crore compared to ₹412 crore in the same quarter last year. The company's consolidated assets under management (AUM) surged 62% year-on-year to ₹40,112 crore in Q1 FY27, led by robust growth in its retail loans, especially gold loan and MSMEs, demonstrating strong operational performance across its diversified lending portfolio.
