TTI Enterprise Ltd board approves stock split, fund raising

The Board of Directors of TTI Enterprise Ltd in its meeting held on 28th June, 2022 has considered and approved the sub-division of equity shares of the Company from the existing One (1) equity share of face value of Rs. 10/- each into Five (05) equity shares of face value of Re. 2/- each, subject to shareholders approval.

The board also approved alteration of the capital clause of Memorandum of Association of the Company on account of sub-division of equity shares subject to shareholders' approval.

The Board of Directors has unanimously decided against raising funds at this point as sufficient funds are available in the books for meeting the current business requirements.

The board approved proposal to change the Object of the Company subject to approval of Shareholders and other regulatory Authorities. The present Management proposes to conduct credit card business, Pre-Paid cards, Hire purchase, personal loan, Business Loan, SME Loans, Working Capital Loan, Loan Against Deposits, Loan Against Property Loan Against Shares / securities / Debentures, Loan with or without any security, CGTMS Loan to any individual, firm, body corporate or any other entity etc. The Company also proposes subject to shareholder approval to pursue manufacturing of Ethanol through a subsidiary due to the thrust by the Government for manufacturing of ethanol and the potential growth in the sector.

Shares of TTI Enterprise Ltd was last trading in BSE at Rs. 12.92 as compared to the previous close of Rs. 13.01. The total number of shares traded during the day was 35357 in over 157 trades.

The stock hit an intraday high of Rs. 13.35 and intraday low of 12.51. The net turnover during the day was Rs. 453895.00.

Source : Equity Bulls

Keywords

TTIEnterprise INE404F01031 FundRaising StockSplit 5For1 SubDivision MOAAlteration