Sequoia Capital and Hudson Equity to invest in Manappuram General Finance

Manappuram General Finance & Leasing Ltd has announced that the Board of Directors of the Company at its meeting held on November 09, 2007, inter alia, has taken the decision to increase the Authorized Capital of the Company to Rs 80 Crores.

The company is to make a preferential issue of 46,80,000 compulsorily convertible preference shares of Rs 100 each to Hudson Equity Holding Ltd, Port Louis Mauritius and Sequoia Capital India Investment Holding I, Port Louis Mauritius.

The company will convene an extra ordinary general meeting of the members on December 05, 2007 to place the above proposals before members.

Source : Equity Bulls

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