- Crescentis Capital is a newly minted lender that was, for three decades, simply a family-run stock-picking vehicle. The company transformed after a prominent hospital-chain founder bought control, renamed it, and injected a fresh mandate: to stop passively holding shares and start actively making loans. The recurring approach is to deploy capital for stable returns with a close eye on risk, a philosophy that once meant buying blue-chip stocks and now means writing secured loans, mostly to small businesses and healthcare operators connected to its new promoter’s world.
Business segments
Four engines at different stages - a secured-lending operation in its first year, a legacy stock portfolio that still generates income, a small rental property, and a pool of interest-bearing deposits - all funded by a recent rights issue and run by a team of nine.
1. Secured lending: the new growth engine
The company writes loans of up to five years to small businesses and healthcare providers, charging 13% to 28% interest while securing the loan against property, invoices or inventory - a business that did not exist before June 2025.
- Secured from day one - every loan is backed by a charge over the borrower’s assets, whether that is commercial property, unpaid customer invoices, or the inventory the loan is buying, which gives the company a claim if things go wrong.
- Priced for the risk - the interest rate a borrower pays is set by its credit rating, how long it wants the money, and the quality of the collateral it can offer, with the company’s own borrowing cost currently at 9.75%.
- Built on the promoter’s healthcare network - the company has proposed loans of up to Rs. 5 crore each to five related parties, including three hospital businesses and two medical-education firms, two of which already have management contracts with the promoter’s listed KIMS Hospitals.
- Funded by a rights issue - a Rs. 49.04 crore capital raise in mid-2025 gave the company the equity base to start lending, supplemented by a loan-against-securities facility from a large financial institution.
- Sold through a two-phase plan - the company first built a customer list through field visits and digital ads, and is now adding direct sales agents and partnerships with fintechs and other NBFCs to find borrowers.
2. Proprietary investment portfolio: the legacy cash engine
A portfolio of publicly traded Indian stocks, held directly and measured at fair value, generates dividend income and realised gains - the company’s sole activity for most of its history and still a material contributor.
- A stock-picker’s book - the portfolio holds unquoted equity shares, government securities and mutual funds, with the company explicitly stating its prospects are tied to how well its investee companies perform.
- Rotated with market cycles - the company has shifted the mix sharply before, such as moving from nearly all mutual funds in 2020 to nearly all direct equity in 2021, and it describes its strategy as investing in sectors that are growing or expected to turn around.
- Pledged for liquidity - some of the investment securities have been pledged to a large financial institution to secure a loan-against-securities facility, turning a static portfolio into a source of working capital.
- Run with internal controls - a formal risk-management framework and internal checks govern the safety of funds and securities, a carry-over discipline from the company’s decades as a pure investment vehicle.
3. Rental income: a small property asset
The company earns rent from a property it owns, a steady non-lending income stream that predates the change in control.
- A legacy asset - the rental income appears as a distinct segment in the company’s revenue mix, though the dossiers do not detail the property’s location or tenant (segment mix line).
- Stable and separate - unlike the lending and investment engines, this income does not depend on credit cycles or stock-market movements, providing a small buffer of predictability.
4. Interest and dividend income: the treasury function
Cash held in fixed deposits and interest-bearing instruments generates a base layer of income, distinct from the fair-value gains on the equity portfolio.
- Deposits earn while waiting - the company recognises interest income on fixed deposits, a low-risk use of surplus cash that sits alongside the equity portfolio.
- Dividends from investee companies - when the stocks in the proprietary portfolio declare dividends, the company books the income as soon as the right to receive it is established.
Group structure and partners
Crescentis Capital is a standalone company with no subsidiaries, controlled by a single promoter who holds roughly two-thirds of the shares, and run by a managing director with four decades of banking experience.
- Concentrated ownership - Dr. Bhaskara Rao Bollineni, the cardiothoracic surgeon who founded KIMS Hospitals, held 68.80% of Doc Tutorials Edutech Private Limited as of March 2025, with the balance held by a co-promoter and public shareholders on the BSE.
- No corporate web - the company has no subsidiary, associate or joint venture; it once had a wholly-owned subsidiary called Som Datt Infosoft, but that entity ceased to be a subsidiary on April 24, 2019.
- A banker at the helm - Managing Director Subba Rao Veera Venkata Meka, who previously held senior roles at Syndicate Bank, ABN AMRO and RBS/NatWest, built the lending architecture and governance framework after joining in September 2023.
- Listed only on BSE - the company voluntarily delisted from the Calcutta Stock Exchange in December 2021, and its shares are now traded solely on BSE Limited.