Ashika Credit Capital Ltd — Board Meeting, 02-08-2025: Board Meeting

Ashika Credit Capital has announced a board meeting outcome, approving the financial results for the quarter. Significantly, the company is now classified as an NBFC-Middle Layer after its group asset size surpassed 1,000 Cr, leading to new compliance requirements. The board also decided to acquire an additional 24.5% stake in subsidiary Ashika Private Equity Advisors Pvt Ltd, increasing its holding to 75.50%. This subsidiary serves as an investment manager for a proposed Alternative Investment Fund, enhancing the company's asset management capabilities. The company will also explore opportunities in the insurance business and recently completed warrant conversions, raising Rs 74.08 Cr, while Rs 0.4555 Cr was forfeited from unexercised warrants.