Crescentis Capital Sets ₹79.62 Crore Rights Issue Terms

Crescentis Capital Limited has set terms for a ₹79.62 crore rights issue of 1,02,08,129 shares at ₹78 each, giving eligible shareholders three rights shares for every five held on the November 4, 2026 record date. The issue is intended to augment the NBFC's capital and repay borrowings.

What are the terms of Crescentis Capital's rights issue?

Crescentis Capital has approved the Letter of Offer for 1,02,08,129 fully paid-up equity shares with a face value of ₹10 each. The shares will be issued at ₹78 apiece, comprising a ₹68 premium over face value, and the offer aggregates to ₹7,962.34 lakh, or ₹79.62 crore, assuming full subscription.

The entitlement ratio is three rights shares for every five equity shares held as of the record date. The Fund-Raising Committee fixed Wednesday, November 4, 2026 as the record date at its October 29 meeting. Shareholders who bought the company's shares on or before November 3, 2026 are eligible to receive rights entitlements.

The company is an RBI-registered, non-deposit-taking non-banking financial company. Incorporated in 1993, it was previously known as Som Datt Finance Corporation Limited. Its board meeting on November 3 approved the offer document and final terms after the company had earlier indicated that it could raise up to ₹80 crore through the proposed issue.

When can shareholders apply for Crescentis Capital shares?

Crescentis Capital's subscription window opens on November 16, 2026 and closes on November 27, 2026. Rights entitlements are scheduled to trade on the stock exchange from November 16 to November 20, allowing eligible investors either to use their entitlement for an application or sell it during that period.

The company has indicated that allotment will be finalised by November 30, 2026. The new equity shares are expected to be listed on or about December 3, 2026. The company had received in-principle approval for listing the new shares before finalising the issue terms.

Rights entitlements are temporary instruments. Investors who do not apply using their entitlements or sell them during the trading period will see those entitlements extinguished after the process. The entitlement mechanism gives existing shareholders a defined opportunity to maintain their proportional holding by subscribing to the offer.

How will Crescentis Capital use the rights issue proceeds?

Crescentis Capital expects net proceeds of ₹7,892.34 lakh from the offer after issue-related expenses. The largest allocation, ₹6,330 lakh, is earmarked for augmentation of the company's capital. A further ₹1,500 lakh is designated for repayment of borrowings, while ₹62.34 lakh is proposed for general corporate purposes.

For an NBFC, capital availability supports its ability to conduct lending and related financing operations within applicable regulatory requirements. The disclosed allocation also shows that a portion of the proposed fund raise will be used to reduce borrowings rather than being directed entirely towards capital augmentation.

The difference between the gross issue size of ₹7,962.34 lakh and net proceeds of ₹7,892.34 lakh is ₹70 lakh. The company has specified its intended uses in the Letter of Offer, providing shareholders with the stated deployment framework before the subscription period begins.

What does the issue mean for Crescentis Capital shareholders?

Crescentis Capital shareholders on the November 4 record date receive rights entitlements under the 3-for-5 ratio. Investors can subscribe for the rights shares at ₹78 per share, subject to the terms of the offer, or can sell their rights entitlements during the specified trading window.

The promoters, Bhaskara Rao Bollineni and Bhavanam Ruthvik Reddy, have confirmed that they will fully subscribe to their respective rights entitlements and will not renounce them. The company has also confirmed that there are no promoter defaults in connection with the issue.

For non-promoter shareholders, choosing not to use or sell the entitlement can affect their percentage ownership after new shares are issued. That is because the number of outstanding shares will increase if the issue is subscribed. The rights structure gives eligible holders an avenue to participate, while entitlement trading provides an alternative for those who do not wish to subscribe.

Why does the rights issue matter for the NBFC's operations?

Crescentis Capital initially announced its plan to consider a rights issue of up to ₹80 crore, with its Fund-Raising Committee due to determine the price, entitlement ratio and record date. The final offer of ₹79.62 crore is close to that earlier ceiling and establishes the number of shares, subscription price and timetable.

The fund raise comes with a stated operational purpose: augmenting capital for the NBFC business and repaying borrowings. The ₹6,330 lakh capital allocation represents most of the expected net proceeds, while the ₹1,500 lakh debt repayment component could alter the company's borrowing position once the funds are received and applied as disclosed.

For investors, the relevant confirmed milestones are the record date, the November 16 opening date, the November 20 end of entitlement trading, and the November 27 close. The final level of subscription and the completion of allotment remain subject to the offer process.

Conclusion

Crescentis Capital has converted its proposed fund raise into a defined ₹79.62 crore rights offer at ₹78 per share. The transaction combines a capital augmentation plan of ₹6,330 lakh with ₹1,500 lakh earmarked for repayment of borrowings, while giving eligible shareholders a 3-for-5 subscription entitlement.

The next disclosed dates are the November 16 opening of the issue, the November 27 closing date, allotment finalisation by November 30, and expected listing on December 3, 2026. Investors considering participation will need to note the entitlement trading period ending November 20 and the terms in the Letter of Offer.