26-Jul-2023
2 mins read
Credent Global Finance Limited is a financial service firm based in London and Mumbai. It is all set to bring its Right Issue size of 3,468,750 equity shares worth Rs 48.56 crore. The subscription for this Rights Issue is opening from Jul 25, 2023, to Aug 8 2023. The company issues 01 Rights equity share for every fully paid-up 02 equity shares held on the record date of Jul 17 2023. The face value is Rs.10 per share, and the right issue price is fixed at Rs 140 per share.
Credent Global Financial Limited Profile
Credent Global Financial Limited, founded in 2017, is a NBFC listed on the BSE. It is registered with the Securities and Exchange Board of India (SEBI) and regulated by the Reserve Bank of India (RBI). The company offers a wide range of financial services that assist corporate institutions and individuals. CGF offers expert guidance to its investors, with deep knowledge and solid financial strategies to help them make the best investment decisions for a flourishing portfolio. Their diversified services include Asset Management, Investment Banking, NBFC, and Real Estate, ensuring comprehensive support in achieving financial goals.
Credent Global Financial Limited presently offers a diverse range of services in its portfolio, including:
- Financial Assessment
- Capital Market Services
- Credit Realignment
- Private Equity
- M&A
- IPO Advisory
- Asset Management
- Real Estate Advisory
Credent Global Finance Limited Financial Information
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
| 31-Mar-22 | 7.92 | 1.9 | 1.07 |
| 31-Mar-23 | 75.8 | 19.57 | 6.74 |
Credent Global Finance Rights Issue 2023 Detail
| Issue Open | Jul 25, 2023 – Aug 8, 2023 |
| Security Name | Credent Global Finance Limited |
| Issue Size (Shares) | 3,468,750 |
| Issue Size (Amount) | Rs 48.56 Crores |
| Issue Price | Rs 140 per share |
| Face Value | Rs 10 per share |
| Listing At | BSE |
| Terms of Payment | On Application, Investors will have to pay Rs. 140 per Rights Equity Share, which constitutes 100% of the Issue price. |
| Entitlement | 1 Rights Equity Share(s) for every 2 fully paid-up Equity Shares held on Record Date |
Credent Global Finance Rights Issue 2023 Issue Timetable
| Last Date to buy shares | 14-Jul-23 |
| Record Date | 17-Jul-23 |
| Credit of Rights Entitlements | 24-Jul-23 |
| Bid/Offer Opens On | 25-Jul-23 |
| Renunciation of Rights Entitlements | 3-Aug-23 |
| Bid/Offer Closes On | 8-Aug-23 |
| Deemed Date of Allotment | 14-Aug-23 |
| Credit Date | 17-Aug-23 |
| Listing Date | 21-Aug-23 |
Purpose of the Issue
Enhance Capital Base: The company aims to use the proceeds to strengthen its capital base and meet the funding requirements necessary to expand its Non-Banking Financial Company (NBFC) operations.
General Corporate Purposes: The funds raised will be utilized for general corporate purposes, enabling the company to support various operational needs and initiatives.
FAQs
- What is the upcoming Rights Issue by Credent Global Finance Limited?
Credent Global Finance Limited has decided to raise funds by offering a Right issue of Rs 48.56 Crores from the company’s existing shareholders.
- How many Equity Shares will be issued, and at what price?
The company plans to issue 3,468,750 equity shares at an issue price of Rs 140.
- What is the Rights Entitlement Ratio for the issue?
The Rights Entitlement Ratio is set at 1:2, meaning that each eligible equity shareholder would be entitled to purchase one new share for every two shares they already hold.
- Who are the lead managers for the Rights Issue?
The lead manager is yet to be announced.
- What are the important dates related to the Rights Issue?
The open date will be July 25, and the closing date will be July 8.