Dhanvarsha Finvest Limited board approves capital raising proposal

The Board of Directors of Dhanvarsha Finvest Limited ("the Company") at its meeting held today i.e., December 24, 2020 (commenced at 10:00 a.m. and concluded at 11:25 a.m.) has considered and approved the raising of capital by issue of securities of up to Rs.150 Crores (One Hundred and Fifty Crores) in one or more tranches in accordance with the provisions of the Companies Act, 2013, SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and other laws/ guidelines, subject to receipt of necessary approvals.

The board approved proposals for availing Term Loan facility and NCD's from Banks, Non-Banking Finance Companies and Financial Institutions , as per terms and conditions mentioned in the sanction letters.

The board also approved launch of Dhanvarsha ESOP Plan - 2021, for 18,90,000 Stock Options, each convertible into one (1) equity share of the Company having face value of Rs.10/- (Rupee Ten only) per equity share to implemented through Trust route, subject to receipt of necessary approval and Alteration of Articles of Association of the Company by deletion of clauses pertaining to the Agreements with Turning Leaf India Pte. Ltd.

Shares of Dhanvarsha Finvest Ltd was last trading in BSE at Rs.410 as compared to the previous close of Rs. 411.25. The total number of shares traded during the day was 5308 in over 54 trades.

The stock hit an intraday high of Rs. 411.75 and intraday low of 410. The net turnover during the day was Rs. 2183703.

Source : Equity Bulls

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