Clix Capital

NBFC player Clix Capital Services looks to double its profit to Rs 100 crore in the next 2023-24 fiscal by focusing on lending to MSMEs and other segments. The post-pandemic period saw massive pent-up demand amongst sectors severely impacted due to Covid-19 and the subsequent lockdowns, such as travel and tourism, education, healthcare and automobiles, the company said in a release. "Clix Capital diligently utilised the Covid-induced disruption as an opportunity to reassess its business strategy as well as digitalise its core-operating model at scale," it said. Clix Capital is poised to cross an AUM (Assets under Management) of Rs 5,000 crore by the end of this fiscal and aims to surpass Rs 9,000 crore by 2024-25, it said. By servicing consumers and MSMEs, Clix has disbursed more than Rs 18,000 crore to date. Most of the company's disbursements have gone to underserved MSMEs. "...the company has carved its niche in focused business segments in line with India's growth trajectory i

Digital lending NBFC Clix Capital Services on Monday said it plans to disburse over Rs 4,000 crore as loans in the next fiscal year beginning April 1

The guidelines for on-tap SFB licences have it that an applicant not found suitable for a licence will not be eligible to apply again for three years

Clix had earlier made a non-binding offer to buy up to 85 per cent stake in LVB

On September 29, Business Standard had reported that Clix Capital would seek indemnity for its directors from litigation if the merger were to go through

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Some large investors are uncomfortable with Clix group's proposal to take up to 90% stake in the bank

The offer suggests the private equity firm comprising Clix Capital Services Private Limited, Clix Finance India Private Limited and Clix Housing Finance Private Limited would be amalgamated with LVB

Clix, backed by AION Capital, had submitted its letter of intent to LVB on June 15

The bank's weakening performance, rising slippages in corporate book and the impact on profitability and risk-weighted asset portfolio may further increase capital requirement

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Clix will put forth details on the merger and state some of its key conditions critical for the deal to come through

The company would raise funds through private placement of debentures in one or more tranches. It, however, did not elaborate on the purpose of raising funds.

SREI may up stake; differences between Kanorias, promoter may have led to crisis

The lender's chief executive S Sundar and six other directors were voted out by shareholders earlier this week

Major portion of due diligence completed; application to RBI is likely in one - two weeks

Beleaguered bank is currently in merger talks with Clix Capital

It is estimated that about Rs 700 - 900 crore of likely liability may hit the bank

The two parties had earlier agreed to extend the due diligence exclusivity period till September 15 due to prevailing Covid-19 pandemic situation

Most recently, Gupta served as the founding member and chief executive officer (CEO) of Clix Capital