Sunday , July 25 2021

Centrum Capital zooms as its arm gets RBI’s nod to establish Small Finance Bank

Centrum Capital is currently trading at Rs. 57.45, up by 7.20 points or 14.33% from its previous closing of Rs. 50.25 on the BSE.

Centrum Capital

The scrip opened at Rs. 53.30 and has touched a high and low of Rs. 58.00 and Rs. 51.05 respectively. So far 314191 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 1 has touched a 52 week high of Rs. 58.00 on 21-Jun-2021 and a 52 week low of Rs. 12.75 on 05-Aug-2020.

Last one week high and low of the scrip stood at Rs. 58.00 and Rs. 41.30 respectively. The current market cap of the company is Rs. 2093.08 crore.

The promoters holding in the company stood at 38.16%, while Institutions and Non-Institutions held 0.43% and 61.42% respectively.

Centrum Capital’s step down subsidiary — Centrum Financial Services (CFSL) has received in-principle approval from the Reserve Bank of India (RBI) to establish a Small Finance Bank (SFB). Resilient Innovations (BharatPe), one of India’s fastestgrowing fintech companies, will be an equal partner.

The RBI’s in-principle approval is a validation of Centrum’s proven expertise in financial services and BharatPe’s Digital Leadership, both essential for setting up a New Age Bank. Starting off with existing capabilities of an NBFC and a Fintech, active and potential customer base, digital reach and technology, should enable the SFB to scale up quickly. The SFB will be guided by the directions and timelines of the RBI on the amalgamation of Punjab & Maharashtra Co-Operative Bank.

Centrum Capital is an investment banking company, which offers a range of financial services in the areas of equity capital market, private equity, corporate finance, project finance and stressed asset resolution

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