Capacite Infraprojects gains 3% after board nod to raise ₹100 crore via NCDs

Shares of Capacite Infraprojects gained over 3% to trade at an intraday high of ₹328.45 per share on the NSE on Tuesday, June 11, after the company announced raising funds up to ₹100 crore through debt route.

In a filing to the stock exchanges, the company said that its Board of Directors considered and approved the issue of Non-Convertible Debentures (NCDs) worth ₹100 crore at the meeting held on Tuesday.

The company informed the stock exchanges that the Board considered and approved the issuance of up to 1,000 secured, unrated, unlisted, redeemable Non-convertible debentures (NCDs) of a face value of ₹10 lakh each, aggregating up to ₹100 crore in one or more tranches on private placement basis.

The civil construction company said that the date of allotment of the debentures will be determined by the company subsequently at the time of signing of definitive documents. The company also said that the date of maturity of the NCDs will be 42 months from the date of the first subscription.

Capacite Infraprojects also said that a coupon/interest rate of 13.8% per annum, compounded monthly, will be payable quarterly. The company mentioned that the interest and principal amount will be paid in 14 equal installments from the date of first subscription.

The company’s consolidated revenue from operations surged 34% to ₹598.89 crore in March quarter of FY24 compared to ₹446.72 crore in the same quarter of the preceding fiscal. Sequentially, the company’s revenue from operations grew over 24% from ₹480.68 crore in the quarter ended December 2023.

The company’s net profit for the March quarter grew over 139% to ₹51.81 crore from ₹21.65 crore on a year-on-year basis. The company’s net profit for the March quarter surged 75% against ₹29.58 crore in the December quarter.

Shares of Capacite Infraprojects closed marginally higher by nearly 1% at ₹321.05 apiece on the NSE.