V-Mart Retail Ltd board approves enabling resolution for raising Rs. 500 crore

The Board of Directors of V-Mart Retail Ltd at its meeting held on Saturday, September 5, 2020, has considered and approved the enabling resolution for shareholders’ approval to undertake the fund raising activity up to an aggregate amount of Rs. 500 Crore (Rupees Five Hundred Crore Only), at the forthcoming Annual General Meeting of the Company.

The board approved increase in authorized share capital of the Company from INR. 20,00,00,000 /- (Rupees Twenty Crore Only) divided into 2,00,00,000 (Two Crore only) equity shared of Rs. 10/- (Rupee Ten Only) each to INR 20,50,00,000/- (Rupees Twenty Crore and Fifty Lakhs Only) into 20,5,00,000 (Two Crore and Five Lakhs Only) equity shares of Rs. 10/- (Rupees Ten Only) each, thereby altering Clause V of the Memorandum of Association of the Company subject to the approval of the shareholders at the forthcoming Annual General Meeting of the Company.

Shares of V-MART RETAIL LTD. was last trading in BSE at Rs.1811 as compared to the previous close of Rs. 1838.6. The total number of shares traded during the day was 255 in over 94 trades.

The stock hit an intraday high of Rs. 1843.45 and intraday low of 1805. The net turnover during the day was Rs. 466239.

Source : Equity Bulls

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