Can Fin Homes Ltd Board approves Rights Issue

The Board of Directors of Can Fin Homes Ltd at its meeting held on July 24, 2014, have approved raising of funds for an amount upto Rs. 300 Crore, subject to receipt of necessary approvals from statutory, regulatory and other authorities, as applicable by way of issue of equity shares of the Company to its eligible shareholders on a rights basis in accordance with the applicable provisions of Companies Act, 2013, Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and other applicable laws (the "Rights Issue").

The Board of Directors would decide the terms and conditions of the Rights Issue, rights entitlement ratio, issue price, record date, and timing of the Rights Issue etc., as may be necessary.

Shares of CAN FIN HOMES LTD. was last trading in BSE at Rs.455.25 as compared to the previous close of Rs. 440.8. The total number of shares traded during the day was 13233 in over 1407 trades.

The stock hit an intraday high of Rs. 458 and intraday low of 440.3. The net turnover during the day was Rs. 5958506.

Source : Equity Bulls

Keywords