Frontline Business Solutions Ltd to raise Rs. 50 crores

The Board of Directors of Frontline Business Solutions Ltd at its meeting held on January 15, 2015, has studied the Research Report prepared by a team of a Company on business of fashion and lingerie. The management is confident about huge business opportunities and the future better prospects in the proposed diversified business activities of the Company.

The Board has taken note of new changed name of the Company Inanna Fashion and Trends Limited.

Considering the future prospects in the business, the Board has decided to raise the funds through Follow on Public Offer. Considering market conditions and funds requirement, it was decided to raise funds upto INR 50 Cr.

The Board has constituted a committee for considering matters related to Further public Issue and for appointment of merchant bankers.

Shares of FRONTLINE BUSINESS SOLUTIONS LTD. was last trading in BSE at Rs.24.6 as compared to the previous close of Rs. 26.2. The total number of shares traded during the day was 257717 in over 755 trades.

The stock hit an intraday high of Rs. 26.1 and intraday low of 24.3. The net turnover during the day was Rs. 6460744.

Source : Equity Bulls

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