The stock commenced trading on the BSE at Rs 2.34 per share and surging to an intraday peak of Rs 2.43 in morning transactions, marking a 5.65 per cent increase from the previous day’s closing value.
Stock Market News: Advik Capital’s shares jumped over 5 per cent on Thursday as the company in a regulatory filing said that it is moving closer to becoming a Systematically Important NBFC (Non-Banking Financial Company). The stock commenced trading on the BSE at Rs 2.34 per share and surging to an intraday peak of Rs 2.43 in morning transactions, marking a 5.65 per cent increase from the previous day’s closing value. The counter had closed at Rs 2.30 on Wednesday. However, it gave up early gains and closed at Rs 2.26.
As of today, the company boasts a net worth of around Rs. 1100 million and total assets nearing Rs. 2000 million, bringing it in proximity to achieving the status of a Systematically Important Non-Banking Financial Company (NBFC).
“We wish to inform you that the Company has received, as attached, a copy of notice of Offer for Sale (OFS) of Shares from its promoter, M/s. EbixCash World Money Limited, dated 13th December, 2023, proposed to be undertaken through the Stock Exchange Mechanism of the BSE Limited.
Earlier, Advik Capital Limited, which is primarily in the business of providing financial loans, said that it has firmed up its plan to apply for a licence for Alternative Investment Fund Category – II (AIF) with SEBI Alternative Investment Fund Regulations. It has informed the BSE that it aims to raise up to Rs 250 crores in its Alternative Investment Fund.
There has been an incredible seven times growth in the past 5 years in the Indian AIF industry (alternative investment funds) which is standing at Rs 69.4 lakhs million of commitments raised as of June 30 2022 (as per SEBI website) and out of which Rs 56.19 lakhs millions of commitments were raised in category II AIF of which so far Rs 22.04 lakhs millions of investments were successfully completed. There are approximately 900 AIFs registered with SEBI.