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Fortune Financial Services: Outcome of board meeting

At the Meeting of the Board of Directors of the Company held today i.e. on 25th May, 2017, the Board has accorded its approval for raising of equity capital by the Company up to Rs. 400 crores, through private placement, Qualified Institutions Placement ("QIP") or through any other permissible mode or a combination thereof.

May 25, 2017 / 04:23 PM IST
 
 
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At the Meeting of the Board of Directors of the Company held today i.e. on 25th May, 2017, which commenced at 11.00 a m and concluded at 3.15 p m, the Board has accorded its approval for raising of equity capital by the Company up to Rs. 400 crores, through private placement, Qualified Institutions Placement ("QIP") or through any other permissible mode or a combination thereof, as may be considered appropriate and the management committee consisting of three members will determine and recommend to the Board which is best in the interest of the Company and further subject to shareholders approval as may be applicable and regulatory/statutory approvals and requirements if any. The Board has decided to increase the authorized capital of the Company to Rs. 100 crores divided in to 10,00,00,000 equity shares of Rs. 10 each subject to members approval by altering the Capital Clause of the Memorandum of Association of the Company.Source : BSE
first published: May 25, 2017 04:23 pm

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