Force Motors Limited approves issue of NCDs

The Board of Directors of Force Motors Limited in its meeting held today, i.e. on 11th January 2021 has approved for issuance of Non-convertible Debentures ('NCDs'), up to Rs. 500 Crore (Rupees Five Hundred Crore only), through private placement in one or more tranches, whether listed or not and whether secured or not, to such persons as may be identified by the Board, from time to time, in terms of Section 42 read with Section 71 of the Companies Act, 2013, read with relevant rules made there under and other applicable laws, subject to the necessary approvals of the Shareholders of the Company.

Shares of FORCE MOTORS LTD. was last trading in BSE at Rs.1376.7 as compared to the previous close of Rs. 1365.45. The total number of shares traded during the day was 8701 in over 859 trades.

The stock hit an intraday high of Rs. 1398 and intraday low of 1348. The net turnover during the day was Rs. 11972505.

Source : Equity Bulls

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