JM Financial Ltd to raise upto Rs. 650 crore

The Board of Directors of JM Financial Ltd, at its meeting held today, has approved raising of funds by way of issue of equity shares or any other instrument or security including fully / partly convertible debentures or global depository receipts or American depository receipts or foreign currency convertible bonds or by way of a composite issue of non-convertible debentures and warrants entitling the warrant holder(s) to apply for equity shares or any other eligible securities through qualified institutions placement or private placement / public issue of equity / debt securities or preferential issue or through any other permissible mode and/or combination thereof as may be considered appropriate, subject to such approvals as may be required including the approval of the members at a general meeting or through postal ballot and further subject to such other statutory / regulatory approvals, as applicable for an aggregate amount of upto Rs. 650 Crore.

Shares of JM FINANCIAL LTD. was last trading in BSE at Rs.150.25 as compared to the previous close of Rs. 150.15. The total number of shares traded during the day was 303778 in over 2360 trades.

The stock hit an intraday high of Rs. 153.15 and intraday low of 142.05. The net turnover during the day was Rs. 45534143.

Source : Equity Bulls

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