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SORIL Holdings and Ventures Ltd approves fund raising

Posted On: 2018-05-12 22:05:52

To capitalize and fund the subsidiaries of SORIL Holdings and Ventures Ltd for undertaking the proposed businesses of Life Insurance, General Insurance and Consumer Platform and to support the future growth of these businesses and to further augment the long-term financial resources of the Company and its subsidiaries, the Board of the Company, at its meeting held today, i.e. May 12, 2018, has approved the preferential offer and issue of an aggregate of upto 7,007,076 (Seven Million Seven Thousand Seventy Six) fully paid up equity shares at an issue price of INR 532 (including a premium of INR 530) per fully paid up equity share aggregating upto approx. INR 372.78 Crore, for cash consideration, to certain foreign investors.

A meeting of the Shareholders of the Company will be held on Monday, June 11, 2018, for seeking their approval to the said proposed preferential issue of shares, which will be in accordance with applicable SEBI Regulations.

Shares of SORIL Holdings and Ventures Ltd was last trading in BSE at Rs.610.85 as compared to the previous close of Rs. 586.55. The total number of shares traded during the day was 197625 in over 1655 trades.

The stock hit an intraday high of Rs. 615.85 and intraday low of 557.25. The net turnover during the day was Rs. 117682274.

Source: Equity Bulls

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