AMPL Capital

DP Global Wealth Management LLP and Vikas Kataria, together with person acting in concert Supriya Kataria, have launched a mandatory open offer to acquire up to 26% of AMPL Capital Limited (formerly Credent Global Finance) at ₹30 per share. The offer, announced on June 30, 2026, was triggered after the group placed a market order to buy an additional 0.92% of the NBFC’s equity, which would raise its combined holding to 25.01%. The acquirers already held 24.09% of the company’s paid‑up shares before the final purchase. If fully subscribed, the ₹47.94‑crore offer would lift the group’s stake to 51.01%. The offer price is broadly in line with the stock’s recent trading levels on BSE. The acquirers said they have no immediate plan to delist the company, but the move signals a decisive push for control.

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DP Global Wealth Management LLP, together with person acting in concert Vikas Kataria, bought 15,08,810 equity shares of AMPL Capital Limited on June 25, lifting the group's combined holding to 55,05,818 shares, or 8.96% of the company's paid-up equity. Vikas Kataria, a designated partner of the LLP, is also an executive director of the nano-cap non‑banking financial company. The open-market transaction, disclosed under SEBI's takeover regulations, follows an earlier acquisition in June that had taken the holding to 6.50%. The latest purchase reinforces the group's rapid accumulation, just days after crossing the 5% substantial acquisition threshold.

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DP Global Wealth Management LLP, along with person acting in concert Vikas Kataria, purchased 20.19 lakh equity shares of AMPL Capital Limited across two trading sessions. The acquisitions on June 23 and 24 lifted their combined holding to 39.97 lakh shares, or 6.50% of the nano‑cap non‑bank lender’s paid‑up equity, crossing the 5% substantial acquisition threshold under the SEBI takeover code. Vikas Kataria, a designated partner of the LLP, is also an executive director of the company. The purchases were executed on the open market, with no change in control or offer for additional shares.

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Mohit K Chheda, a director of Credent Global Finance, together with persons acting in concert (PACs), sold 19,10,000 shares in the open market over four trading sessions ending June 22. The disposal, executed through BSE, reduced the group's combined holding from 9.95% to 6.84% of the company's paid-up capital. At the current market capitalisation of roughly ₹181 crores, the transaction is valued at approximately ₹56 crores. The sellers include Mr Chheda, Dilip Nanji Chheda, and Laxmi Trading & Investment Partnership Firm, none of whom belong to the promoter group. The sale comes amid a series of corporate actions by the nano-cap non-banking financial company, including a name change to AMPL Capital and a proposed preferential issue of convertible warrants.

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Feb 16 (Reuters) - Credent Global Finance Ltd CREE.BO:

• CREDENT GLOBAL FINANCE LTD - OPENS QIP ISSUE, FLOOR PRICE AT 29.37 RUPEES PER SHARE

Source text: ID:nBSE7gsLmY

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Repeats story published late Thursday, no changes to text

By Amanda Cooper

LONDON, Dec 11 (Reuters) - The cost of insuring Oracle's ORCL.N debt against the risk of default has shot up after its latest earnings reignited worries about how much the broader corporate sector is spending on AI and the borrowing surge to fund it.

A growing debt pile, at just over $100 billion, means Oracle has become a bellwether for sentiment towards AI as concern about a bubble in the sector grows with surging tech shares.

Trading in Oracle credit default swaps (CDS), which has exploded in the last year and are near their most expensive on record, tell a less upbeat story than its shares.

WHAT IS A CDS ANYWAY?

Essentially derivatives that offer insurance against the risk of a bond issuer - such as a company or a government - not paying creditors.

Bond investors hope to receive interest on their bonds and their money back when the bond matures. But they have no guarantee either of these things will happen and so bear the risk of holding that debt.

CDS help to mitigate the risk through a form of insurance.

IS THIS A BIG MARKET?

The market for single name CDS, covering one issuer's bonds, is worth around $9 trillion, according to the International Swaps and Derivatives Association (ISDA).

This is a small part of global bond markets, home to more than $150 trillion in total debt securities outstanding, according to the Bank for International Settlements.

The biggest CDS market is for governments. In the third quarter, Saudi Arabia topped the charts, with a daily notional average of $500 million trades each day, based on Depositary Trust & Clearing Corporation (DTCC) data.

Banks are the most widely traded corporate CDS. But Oracle ranks in the top 20, with a daily notional average of $75 million each day in the third quarter, up 650% from the daily average at this point last year, according to DTCC data.

CDS trading can be thin, with the number of average daily CDS trades, even for large companies, sometimes in single digits, DTCC data suggests.

This makes the market tricky to navigate and creates a situation where even a small CDS trade can have an outsized price impact.

WHO BUYS CDS?

Bond investors typically buy CDS via an intermediary, often an investment bank, which finds a financial firm to issue an insurance policy on the bonds. These are "over-the-counter" deals that do not go through a central clearing house.

The buyer of the CDS pays a fee, called a premium like in the insurance business, on a regular basis to their counterparty, which then takes on the risk. In return, the seller of the CDS pays out a certain amount if something goes wrong, just like an insurance payout.

CDS are quoted as a credit spread, which is the number of basis points (bps) that the seller of the derivative charges the buyer for providing protection. The greater the perceived risk of a credit event, the wider the spread.

The owner of a CDS quoted at 100 bps would have to pay $1 to insure every $100 of bonds that they hold.

Oracle CDS trade around 126 bps, according to data from S&P Global Market Intelligence, well above other AI-linked companies such as Nvidia NVDA.O, trading around 37 bps, or Meta META.O, which trades close to 50 bps, LSEG data shows.

Boaz Weinstein's Saba Capital Management has sold credit derivatives recently to lenders seeking protection on big tech names like Oracle, a source told Reuters last month.

WHAT TRIGGERS A CDS PAYOUT?

A credit event, which can include a bankruptcy of a debt issuer, or a failure to make a payment on bonds.

Like any financial asset, CDS are actively traded. If the perception of risk increases around a debt issuer, demand for its CDS rises, widening the spread.

A REMINDER OF 2008 CRISIS

CDS were one of the financial instruments at the centre of the 2008 financial crisis.

Bear Stearns and Lehman Brothers were among the many banks that issued CDS to investors on mortgage-backed securities (MBS) - mortgages bundled into one package - among other types of derivatives.

When U.S. rates rose sharply throughout 2007, triggering a wave of mortgage defaults, billions of dollars in MBS and other bundled securities were rendered worthless. This sparked hefty CDS payouts for banks such as Lehman and Bear Stearns.

(Reporting by Amanda Cooper; Editing by Dhara Ranasinghe and Chizu Nomiyama)

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Oct 10 (Reuters) - Credent Global Finance Ltd CREE.BO:

• CREDENT GLOBAL FINANCE LTD - TO RAISE FUNDS VIA QUALIFIED INSTITUTIONS PLACEMENT WORTH 350 MILLION RUPEES

Source text: ID:nBSE7n0G76

Further company coverage: CREE.BO

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March 6 (Reuters) - Credent Global Finance Ltd CREE.BO:

• APPROVES ISSUANCE OF NON-CONVERTIBLE DEBENTURES WORTH 500 MILLION RUPEES

Source text: ID:nBSE9f19W0

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March 3 (Reuters) - Credent Global Finance Ltd CREE.BO:

• TO DISCUSS FUND RAISING VIA SECURED NON-CONVERTIBLE DEBENTURES

Source text: ID:nBSEbHNYvL

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Feb 3 (Reuters) - Credent Global Finance Ltd CREE.BO:

• CREDENT GLOBAL FINANCE LTD - COMMENCES GOLD LOAN BUSINESS

Source text: ID:nBSE8DP1Qq

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Credent Global Finance Ltd CREE.BO:

• CREDENT GLOBAL FINANCE LTD- CONSIDERED FUND RAISING BY WAY OF RIGHTS ISSUE

Source text for Eikon: ID:nBSE6sBpRg

Further company coverage: CREE.BO