Capital First Ltd.

Capital First Ltd.

Formerly	Future Capital Holdings
Company type	Public
Traded as	BSE: 532938 NSE: CAPF
ISIN	INE688I01017
Industry	Non-bank financial institution
Founded	2005 (2005) [1]
Defunct	18 December 2018 (2018-12-18) [2]
Fate	Merged with IDFC Bank to form IDFC First Bank [3]
Successor	IDFC First Bank
Headquarters	One Indiabulls Centre, Senapati Bapat Marg, Lower Parel (West), Mumbai, Maharashtra , India [4]
Area served	India
Key people	V. Vaidyanathan (Chairman & MD) Pankaj Sanklecha (CFO)
Revenue	₹3,628 crore (US$530.49 million) [5]  (2018)
Operating income	₹454 crore (US$66.38 million) [5]  (2018)
Net income	₹327 crore (US$47.81 million) [5]  (2018)
AUM	₹26,997 crore (US$3.95 billion) (2018)
Total assets	₹23,981 crore (US$3.51 billion) [5]  (2018)
Total equity	₹2,549 crore (US$372.72 million) [5]  (2018)
Owners	Cloverdell Investment Ltd (34.29%) Government of Singapore (9.0%) [5]
Subsidiaries	Capital First Home Finance Limited Capital First Securities Limited Capital First Commodities Limited [5]
Rating	AAA [5]
Website	www.capitalfirst.com

Capital First Ltd. was an Indian non-bank financial institution providing debt financing to small entrepreneurs, MSMEs and consumers. In December 2018, it was merged into IDFC Bank to form IDFC First Bank. The company was listed on the NSE and BSE prior to the merger. ^{[6] [7] [8]}

History

Founded in 2005 as a part of Future Group, the company became Future Capital Holdings in December 2006. ^[1] The company listed on the Indian stock exchanges in January 2008 following an initial public offering. ^[9] Between 2008 and 2010, the company launched businesses including real estate development financing, corporate credit, private equity, asset management, foreign exchange, retail broking, mall management, wealth management and property services. ^[10]

In 2010, V. Vaidyanathan, then MD and CEO of ICICI Prudential Life, was appointed as the vice-chairman and MD of Future Capital Holdings. Vaidyanathan obtained a 10% stake in the company as part of the deal. ^{[11] [12]} The company later exited legacy businesses of forex, wealth, and broking, and reduced wholesale lending sharply. ^[13]

In 2012, Warburg Pincus agreed to buy a majority stake in the company for ₹8.10 billion (US$151.58 million), including ₹1 billion by way of preferential allotment. An open offer was made to the public in line with SEBI guidelines. The board was reconstituted and the company was renamed Capital First. ^{[14] [15]}

References

1. "Warburg Pincus in talks to acquire Future Capital Holdings". The Economic Times. 11 May 2012. Retrieved 16 December 2024.
2. Shah, Saumil. "Capital First & IDFC Bank: Made For Each Other". BW Businessworld. Retrieved 16 March 2019.
3. "IDFC Bank and Capital First announce completion of merger". thehindubusinessline. 18 December 2018. Retrieved 19 December 2018.
4. "Corporate Office". Capital First. Retrieved 16 March 2019.
5. "Annual Report 2017-18" (PDF). Capital First. Retrieved 16 March 2019.
6. "Capital First Ltd. Annual Report 2018" (PDF).
7. "Dun & Bradstreet – Company Profile" (PDF). www.dnb.co.in. Archived (PDF) from the original on 15 November 2017. Retrieved 11 July 2017.
8. nazerry. "Vaidyanathan Vembu — Enterprise Asia". Enterprise Asia. Retrieved 9 July 2017.
9. "Future Capital IPO fully subscribed". Business Standard. Retrieved 16 December 2024.
10. "Future Capital IPO Details – Date, Prospectus, Allotment, Listing, Reviews & Status". Chittorgarh. Retrieved 9 July 2017.
11. "Vaidyanathan appointed vice chairman and MD of Future Capital". The Economic Times. 1 August 2010. Retrieved 16 December 2024.
12. "V. Vaidyanathan takes wing with a $17 million stake in a star NBFC". Business Today. 3 July 2012. Retrieved 16 December 2024.
13. Business, Outlook. ""If I can see it, then I can do it. If I just believe it, there's nothing to it" | Outlook Business". www.outlookbusiness.com. Retrieved 9 July 2017.{{cite news}}: |last= has generic name (help)
14. "Capital First Limited | Warburg Pincus". Warburg Pincus. Archived from the original on 5 May 2016. Retrieved 9 July 2017.
15. "V. Vaidyanathan takes wing with a $17 million stake in a star NBFC". www.businesstoday.in. 3 July 2012. Retrieved 9 July 2017.