company, changed the business model to retail, and executed a Management Buyout of the company by securing equity backing from Warburg Pincus for Rs. 810 Crores and changed the name of the company to Capital First. In the process the company got new shareholders, reconstituted a new board and started new retail business lines.

The Market Cap of Capital First has increased from Rs. 7.90 billion ($121 mn) on June 30 2012 (FY ending prior to the buyout) to Rs. 60.96 bn on June 30, 2018. ($0.94 bn).

The founding theme of Capital First is that financing India's 50 million MSMEs and its emerging middle class, with a differentiated model, based on new technologies provides a large and unique opportunity.

Unlike traditional models of financing, Capital First has successfully created new models to finance MSMEs and Indian consumers, in the hitherto unbanked and under-penetrated segments. The Company uses a differentiated model, based on new technologies and deep analytics. With this differentiated approach, Capital First has financed over 7.0 million customers in more than 225 locations across India and built loan assets of Rs 326.22 Bn (USD 4.47 bn) as on 30 September, 2018, with 91% of its loan assets in the Consumer & MSME financing space. Capital First has maintained high asset quality over the years. The Gross and Net NPA of the Company is 1.62% and 1.00% respectively as of 30th June 2018 on 90 dpd NPA recognition basis.

The company enjoys the highest long term credit rating of AAA. Capital First is focused on building an institution on strong pillars of ethics, values and high corporate governance.