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APM Finvest Ltd board approves preferential issue, name change
Posted On : 2022-06-11 21:11:23( TIMEZONE : IST )
The Board of Directors of APM Finvest Limited, at its meeting held today i.e., June 11, 2022, consider and approved the increase in authorized share capital of the Company from Rs. 4,50,00,000 (Rupees Four Crore Fifty Lakh only) comprising of 2,25,00,000 (Two Crores Twenty Five Lakh) Equity shares of Rs. 2 (Rupees Two) each to Rs. 7,00,00,000 (Rupees Seven crores only) comprising of 3,50,00,000 (Three Crores Fifty Lakh) Equity shares of Rs. 2 (Rupees Two) each subject to the approval of members.
The board approved the issuance of 3,00,000 (Three Lakhs) equity shares of face value of Rs. 2/- each of the company to Ms. Mithali R and Ms. Joshna R, Non-promoter Indian Resident on a preferential basis ("Preferential Issue"), at a price of Rs. 82.03/- (Rupees Eighty Two and Three paise only) per Equity share aggregating to Rs. 2,46,09,000 (Rupees Two crore Forty Six Lakh Nine Thousands only), subject to the approval of regulatory / statutory authorities and the members of the Company through postal ballot.
The board also approved the issuance of 16,00,000 (sixteen Lakhs) convertible warrants into equity shares of the Company to Hindon Mercantile Limited, promoter on a preferential basis ("Preferential Issue") at a price of Rs. 82.03/- (Rupees Eighty Two and Three paise only) per convertible warrant into Equity shares aggregating to Rs. 13,12,48,000 (Rupees Thirteen crore Twelve Lakh Forty Eight Thousands only), subject to the approval of regulatory / statutory authorities and the members of the company through postal ballot.
The board also took note of name reservation letter received from Registrar of companies and No objection Certificate received from Reserve Bank of India for proposed name change from APM Finvest Limited to Mufin Green Finance Limited subject to the approval of members through postal ballot.
Shares of APM Finvest Ltd was last trading in BSE at Rs. 89.90 as compared to the previous close of Rs. 90.50. The total number of shares traded during the day was 18895 in over 156 trades.
The stock hit an intraday high of Rs. 93.90 and intraday low of 88.00. The net turnover during the day was Rs. 1708480.00.
