Courtesy: https://www.chittorgarh.com/
Review By Dilip Davda on August, 2026
• The company is engaged in financial activities as an RBI registered NBFC.
• It posted minuscule financial performance for the reported periods.
• Though the RI is at par value, it appears as a high risk/low return bet.
• Well-in formed investors may park moderate funds for long term.
ABOUT COMPANY:
SI Capital & Financial Services Ltd., (SCFSL) is a well-established non-banking financial services firm in India with a legacy spanning over three decades. The Company operates as the consumer finance brand of the Sharewealth Group, a financial services group with market presence since 1994. Over the years, SI Capital has built a reputation for delivering trusted and comprehensive financial solutions to a wide spectrum of clients.
SCFSL is a listed public company traded on the Bombay Stock Exchange (BSE) under the scrip code 530907 (ISIN: INE417F01017). Incorporated originally in Chennai, Tamil Nadu on 8 November 1994, the Company later relocated its registered office to Pollachi, Coimbatore, Tamil Nadu in the financial year 2022-23 to better align its operations with regional financial markets.
As a Non-Deposit Taking Non-Banking Financial Company (NBFC-ND) registered with the Reserve Bank of India (RBI), it provides both fund-based and fee-based financial services. The Company also holds a valid license to operate as a Full-Fledged Money Changer, enabling it to engage in foreign exchange services alongside its core lending activities. Business Activities and Service Offerings the company offers a diversified portfolio of financial products tailored to the needs of various customer segments, including retail clients, high-net-worth individuals (HNIs), ultra HNIs, micro-enterprises, and small and medium enterprises (SMEs).
The Company’s key business verticals include: – Business Verticals and Operations – The Company operates through diversified financial services verticals, offering both fund-based and fee-based products designed to address the evolving credit and transactional needs of individuals and businesses. Its operations are supported by prudent credit appraisal systems, collateral-based risk mitigation, and customer-centric service delivery models. The company offers Gold Loan, Personal Loan, Automobile loans, Business loans/SME financing, foreign exchange services etc. The offer document is missing its employees’ data info.
ISSUE DETAILS:
The company is coming out with its Rights Issue (RI) of 7575000 equity shares of Rs. 10 each at par value to mobilize Rs. 7.58 cr. The RI opens for subscription on August 10, 2026, and will close on September 03, 2026. The company is offering RI in the ratio of 3 for 2 to its eligible stakeholders as of the record date of July 31, 2026. The company is asking for full money on application for number of shares applied. Post allotment, RI shares will be listed on BSE. The company is spending Rs. 0.35 cr. for this RI process, from the net proceeds, it will utilize Rs. 5.50 cr. for augmenting its capital base, Rs. 1.50 cr. for repayment/prepayment and/or redemption in full or part, of NCDs issued by the company including interest, and Rs. 0.23 cr. for general corporate purposes.
The RI is solely lead managed by the company itself, and MUFG Intime India Pvt. Ltd. is the registrar to the issue.
Post-RI, company’s current paid-up equity capital of Rs. 5.05 cr. will stand enhanced to Rs. 12.63 cr. Based on the RI pricing, the company is looking for a market cap of Rs. 12.63 cr.
FINANCIAL PERFORMANCE:
On the financial performance front, for the last four fiscals, the company has posted total revenue / net profit/ – (loss), of Rs. 1.73 cr. / Rs. – (0.72) cr. (FY24), Rs. 2.56 cr. / Rs. 0.17 cr. (FY25), Rs. 3.71 cr. / Rs 0.33 cr. (FY26). The company posted minuscule financial performances for the reported periods.
DIVIDEND POLICY:
The company has not paid any dividends for the reported periods of the offer document. It will adopt a prudent dividend policy, based on its financial performance and future prospects. However, the offer document is silent on its dividend policy.
SCRIP PERFORMANCE: BASED ON BSE WEBSITE DATA: SCRIP CODE: 530907 (FV Rs. 10).
The scrip last closed on cum-right basis at Rs. 30.21 on July 30 2026, and opened on an ex-right basis at Rs. 17.30 on July 31, 2026. Since then, it has marked a high/low of Rs. 17.99 / Rs. 14.78. The scrip last closed at Rs. 16.33 as of August 07, 2026. For the last 52 weeks’ it has posted a high/low of Rs. 25.76 / Rs. 10.26.
The promoters’ holding has been constant at 39.47%L for the last three quarters ended on June 30, 2026. The counter is well maintained above the par value to tempt investors.
Conclusion / Investment Strategy
SCFSL is engaged in financial activities as an RBI registered NBFC. It posted minuscule financial performance for the reported periods. Its financial data has been lack-luster, so far. Though the RI is at par value, it appears as a high risk/low return bet. Only well-informed investors may park moderate funds for long term.
Review By Dilip Davda on August, 2026
Review Author
DISCLAIMER: No financial information whatsoever published anywhere here should be construed as an offer to buy or sell securities, or as advice to do so in any way whatsoever. All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decisions. My reviews do not cover GMP market and operators game plans. Readers must consult a qualified financial advisor before making any actual investment decisions, based the on information published here. With entry barriers, SEBI wants only well-informed investors to participate in such offers. With crazy listings in the recent past, SME IPOs drew the attention of investors across the board and lead to seer madness. However, as SME issues have entry barriers and continued low preference from the broking community, any reader taking decisions based on any information published here does so entirely at their own risk. The above information is based on information available as of date coupled with market perceptions. The Author has no plans to invest in this offer.
About Dilip Davda
Dilip Davda is veteran journalist associated with stock market since 1978. He is contributing to print and electronic media on stock markets/insurance/finance since 1985.
Dilip Davda is a leading reviewer of public issues and NCDs in the primary stock market in India. The knowledge he gained over 3 decades while working in the stock market and a strong relationship with popular lead managers makes his reviews unique. His detailed fundamental and financial analysis of companies coming up with IPOs helps investors in the primary stock market. Dilip Davda has a special interest in analyzing the SME companies and writing reviews about their public issues. His reviews are regularly published online and in news papers.
(Dilip Davda -SEBI registered Research Analyst-Mumbai,
Registration no. INH000003127 (Perpetual)
Email id: dilip_davda@rediffmail.com ).
Courtesy: https://www.chittorgarh.com/
