AF Enterprises Ltd updates on fund raising

The Board of directors of AF ENTERPRISES LIMITED has recommended seeking enabling resolution for Raising of Funds by issuance and allotment of equity shares for up to an aggregate amount of up to Rs. 150 Crore (Rupees One Hundred and Fifty Crore) by way of equity shares/convertible instruments/other securities through Further Public Offer, Private Placement, QIB's, QIP's, ADR, GDR, FCCB or any other method or combination thereof, in one or more tranches, including right issue not exceeding Rs. 50 Crores (Rupees Fifty Crore) in single tranche, in accordance with applicable laws.

The board also approved increase in Authorised Share Capital: Considered and approved Increase in Authorised Share Capital of the Company from existing Rs. 24,50,00,000/- (Rupees TwentyFour Crore Fifty Lakhs) to Rs. 41,00,00,000/- (Rupees Forty One Crore) by creation of New equity shares and consequent change in capital clause of the Memorandum of Association of the Company subject to approval by the members.

Shares of A.F. Enterprises Ltd was last trading in BSE at Rs. 14.01 as compared to the previous close of Rs. 13.35. The total number of shares traded during the day was 152631 in over 285 trades.

The stock hit an intraday high of Rs. 14.01 and intraday low of 13.21. The net turnover during the day was Rs. 2126461.00.

Source : Equity Bulls

Keywords

AFEnterprises INE663P01015 FundRaising SharesAllotment