Fortune Financial Services (India) Ltd's Rs 204 crore rights issue will open on Monday.
The rights issue will begin on March 28 and close on April 11, as per the information available with capital markets regulator Sebi.
The funds raised through the issue will be utilised for investment in the company's wholly-owned subsidiary Fortune Credit Capital Ltd (FCCL) and to meet general corporate purposes.
In a rights issue, shares are issued to existing investors as per their holding at pre-determined price and ratio.
The firm plans to issue 2,26,77,777 equity shares with a face value of Rs 10 each for cash at a price of Rs 90 each aggregating to an amount up to Rs 204.10 crore on a rights basis to the existing shareholders "in the ratio of 4 equity shares for every five fully paid up equity shares held by the existing shareholders on the record date." The company, which filed draft papers in August 2015 seeking clearance from Sebi to raise funds through rights issue, had obtained the approval in November last year.
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