Crescentis Capital Limited (formerly **Som Datt Finance Corporation Limited**) is a listed **Non-Banking Financial Company (NBFC)** registered with the **Reserve Bank of India (RBI)** under Registration No. **N-09.00492**. Classified as an **Investment and Credit Company (ICC)** within the **Base Layer (NBFC-BL)** of the RBI’s Scale Based Regulation, the company is currently undergoing a fundamental transformation. Under new leadership, it is pivoting from a legacy proprietary investment firm into a diversified, technology-driven financial services provider. --- ### **Strategic Pivot and Corporate Rebranding** Following a significant change in ownership in **July 2023**, the company has entered an aggressive growth phase designed to modernize its operations and expand its market footprint. * **Change in Control:** Management control shifted to new promoters, **Dr. Bhaskara Rao Bollineni** and **Mr. Bhavanam Ruthvik Reddy**, who acquired a **69.36%** stake. * **Identity Transformation:** In **December 2025**, shareholders approved the rebranding from **Som Datt Finance Corporation Limited** to **Crescentis Capital Limited** to reflect the new strategic vision. * **Operational Relocation:** The registered office was moved from **Delhi** to **Hyderabad, Telangana** in **2024** to align with the new management’s base and improve administrative efficiency. * **Talent Alignment:** To attract and retain leadership during this transition, the company implemented the **Employees' Stock Option Scheme 2025 (ESOS 2025)**, with in-principle approval for **13,00,000 equity shares**. --- ### **Dual-Vertical Business Model** The company is evolving to create a balanced revenue stream by maintaining its historical investment core while aggressively building a new lending arm. #### **1. Investment Vertical (Proprietary Portfolio)** Historically the core business, this vertical focuses on capital appreciation and steady income through a diversified portfolio: * **Equity & Mutual Funds:** Investments across **Large-cap, Mid-cap, and Small-cap** listed stocks, alongside selective stakes in **DPIIT-registered startups**. * **Fixed Income:** Allocation toward **bonds and debentures** to ensure portfolio stability. * **Revenue Drivers:** Income is primarily generated through **dividends**, interest on fixed deposits, and capital gains. #### **2. Lending Vertical (Strategic Diversification)** The company is launching specialized lending services targeting underserved segments, utilizing an **asset-light technology model** and **SaaS-based solutions** for sourcing and credit appraisal. | Segment | Target Audience | Key Products & Strategy | | :--- | :--- | :--- | | **Healthcare** | Hospitals & Diagnostic Centers | **Equipment Financing** (CT scanners, X-ray, etc.) and professional loans for doctors. | | **Education** | Students & Professionals | **Subvention Model** via MoUs with **Prakara Learning** and **DocTutorials Edutech**. | | **MSME Financing** | Small Businesses | Customized growth loans for **Renewable Energy** and **Chemical** sectors. | | **Liquidity Solutions** | Corporate Clients | **Receivable Financing** and **invoice discounting** to manage cash flow. | --- ### **Capital Augmentation and Financial Scaling** To support its transition into active lending, the company has significantly expanded its financial capacity through aggressive capital raising and increased borrowing mandates. * **Rights Issue 2025:** Successfully raised **₹49.04 Crore** in July 2025 by issuing **7,005,579** shares at **₹70** per share. The issue was oversubscribed by **123%**. * **Expanded Borrowing Limits:** Shareholders increased the borrowing limit under Section 180(1)(c) from **₹50 Crore** to **₹500 Crore**. * **Authorized Capital:** Increased from **₹25 Crore** to **₹50 Crore** to allow for future equity expansion. * **Liquidity Management:** The company utilizes **Loan Against Securities (LAS)** facilities, with a recently extended pledge limit of **₹20 Crore** to maintain immediate liquidity for lending disbursements. --- ### **Financial Performance and Asset Profile** The company’s financials currently reflect its status as an investment-heavy entity, with profitability tied to market valuations under **Ind AS 109**. | Parameter (₹ in Crore) | FY 2024-25 | FY 2023-24 | FY 2022-23 | | :--- | :---: | :---: | :---: | | **Total Income** | **(3.02)** | **15.03** | **1.34** | | **Net Profit / (Loss) After Tax** | **(5.42)** | **12.10** | **0.72** | | **Debt to Equity Ratio** | **0.0x** | **0.0x** | **0.0x** | | **Return on Avg. Assets** | **-16.5%** | **40.9%** | - | **Key Financial Observations:** * **Volatility:** The **FY25 loss** was primarily driven by a **notional unrealized loss of ₹4.92 crore**, whereas the **FY24 profit** stemmed from a **₹13.6 crore unrealized gain**. * **Zero Debt:** The company maintains a debt-free balance sheet, providing significant headroom for future leveraging. * **Asset Composition:** As of late 2024, financial assets were dominated by **Investments (₹3,124.70 Lakhs)**, with **Cash & Equivalents** at **₹40.38 Lakhs**. --- ### **Risk Factors and Regulatory Landscape** Investors should note the specific risks associated with the company’s transition and the broader NBFC sector. * **Market Sensitivity:** With over **₹3,100 Lakhs** in quoted investments, a **10%** market correction would impact portfolio value by approximately **₹312 Lakhs**. * **Regulatory Show-Cause:** The company received an RBI show-cause notice in **April 2023** regarding its **Certificate of Registration**. While contested, an adverse ruling would halt NBFC operations. * **Public Shareholding Compliance:** Following the 2023 takeover, promoter holding reached **95.34%**. The company must dilute this to meet the **25% minimum public shareholding** requirement. * **Credit Risk:** As the company moves into unsecured education and MSME loans, it faces risks of borrower default. It attempts to mitigate this through joint collection frameworks with partners. * **Operational Execution:** The shift to lending requires significant investment in IT infrastructure and specialized manpower, which may pressure short-term margins. * **Regulatory Exemptions:** As a **Type 1 NBFC** with assets under **₹500 crore**, it is currently exempt from **CRAR** and **Liquidity Coverage Ratio (LCR)** requirements, though this may change as the company scales. --- ### **Corporate Information** * **BSE Scrip Code:** **511571** * **Workforce:** **6** permanent employees (as of March 2024; expected to scale). * **Registered Office:** Hyderabad, Telangana (Leased from **BSCPL Infrastructure Limited** at **₹1,75,000/month**). * **Auditors/Compliance:** Operates under **Ind AS** reporting standards; all lending frameworks are designed to meet **RBI Scale Based Regulations**.