Disclosure under Regulation 30 for aquisition of Preference Shares
Awaiting price reaction for this filing.
Capfin India Ltd has acquired 3,75,000 non-cumulative, non-participating, redeemable preference shares in Indigo Infracon Private Limited through a Rights Issue. The total cash consideration paid is Rs. 3.75 crore, at Rs. 100 per preference share. The shares are convertible at the option of Capfin India. Indigo Infracon is a real estate and infrastructure company incorporated in January 2012 with currently nil revenue. The acquisition is being treated as an investment opportunity, as the target plans to expand its business. No related party transaction or regulatory approvals are involved.
This is a small investment (Rs. 3.75 crore) in an unrelated, currently zero-revenue real estate company, which is outside Capfin India's main line of business. Shareholders may view this as a minor diversification move with limited immediate impact on earnings, though the redemption/conversion terms could matter later.