IKF Finance Ltd to raise funds through issue of securities

The Board of Directors of IKF Finance Ltd at its meeting held on March 31, 2012, has considered and approved the allotment of 63,60,000 Equity Share of Rs.10/- each at a premium of Rs. 3/- per Share to Promoters and other than Promoters on Preferential basis.

The Board approved allotment of 40,00,000 Warrants Convertible into equal number of equity shares at a premium of Rs. 3/- per share to Promoters on Preferential basis.

The Board also approved offer of Equity Shares / Warrants / Compulsorily Convertible Debentures / Preference Shares etc. to the resident and non resident Indians including Promoters, up to an aggregate amount of Rs. 10 Crs (including Premium as arrived at as per SEBI guidelines) on Preferential basis, subject to the approval of the Shareholders and the Stock Exchange.

The IKF Finance Ltd stock last traded on March 30, 2012 at Rs.12.84, up by Rs.0.09 or 0.71%. The stock hit an intraday high of Rs.12.84 and low of Rs.12.84.

The total traded quantity was 1 compared to 2 week average of 1393.

Source : Equity Bulls

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