Sovereign wealth fund GIC invests $51m in India’s NBFC Capital First

Capital First, a Mumbai-based non-banking finance company (NBFC), is raising Rs 340 crore ($50.9 million) from Caladium Investment Pvt Ltd, an affiliate of Singapore’s sovereign wealth fund GIC, the company said in a statement on Friday.

The NBFC will allot 4.7 million shares to GIC on a preferential basis at Rs 712.70 each aggregating to Rs 340.7 crore. The deal is subject to shareholders’ approval.

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