Ashika Credit Capital Limited (ACCL), a prominent NBFC specializing in diverse investment and capital market activities, has unveiled a significant strategic move to boost its operations and market standing. The company announced a preferential issue of equity shares and convertible warrants worth Rs 1837.26 million, with Rs 1359.36 million coming from promoters and the promoter group.
The board approved the issuance of 31,50,000 equity shares and 9,00,000 convertible warrants to non-promoters. Demonstrating strong commitment, the promoters will subscribe to an additional 63,90,000 equity shares and 51,30,000 convertible warrants, infusing fresh capital into ACCL. This substantial investment underscores the promoters’ dedication to the company’s growth and success.In a significant development, the promoters are merging one of their Non-Banking Financial Companies (NBFCs) into ACCL. This merger will enhance ACCL’s financial capabilities, enabling it to undertake larger investments and strengthen its market presence.
With these initiatives, ACCL is set to become a sizable business entity with diversified activities, including special situation investments, long-term and short-term investments, tactical and opportunistic investments, derivatives, and algo trading. The infusion of fresh capital and integration of additional NBFC operations will position ACCL as a robust player in the financial sector.Mr. Gaurav Jain, CFO of Ashika Credit Capital Limited, stated, “We are excited about these developments, which mark a new chapter in our journey. The equity issuance, combined with the promoters’ investment and the NBFC merger, will significantly strengthen our capital base and operational capabilities, enabling us to pursue new growth opportunities.”
