Edelweiss Financial Services Limited board approves increase in loan limit

The Board of Directors of Edelweiss Financial Services Limited, at their meeting held today, have approved the following, subject to approval of the Members of the Company, viz:

- To increase the limit to make loans to any person or other bodies corporate; give any guarantee or provide security in connection with a loan to any other body corporate or person; and acquire by way of subscription, purchase or otherwise securities of anybody corporate, from Rs. 10,000 crores to Rs. 20,000 crores, under Section 186 of the Companies Act, 2013; and

- Divestment / pledge or creation of lien on / dilution / disposal of the Company's investment(s) / asset(s) /undertaking(s).

The approval of the Members of the Company for the aforementioned matters shall be sought through Postal Ballot.

Shares of Edelweiss Financial Services Ltd. was last trading in BSE at Rs.44.55 as compared to the previous close of Rs. 42.45. The total number of shares traded during the day was 7266 in over 35 trades.

The stock hit an intraday high of Rs. 44.55 and intraday low of 44.5. The net turnover during the day was Rs. 323676.

Source : Equity Bulls

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