ARC Finance Ltd board approves rights issue

The Board of Directors of ARC Finance Ltd in its meeting held on 27th December, 2022 have considered and approved the proposal to raise Fund for an amount not exceeding Rs. 40,00,00,000/- (Rupees Forty crores only), through a Right Issue to the eligible equity shareholders of the Company as on Record date (to be notified subsequently). The rights issue will be either equity or any other convertible instruments.

The board also approved proposal to constitute of the Right Issue Committee to proceed with the Right Issue and, decide other terms and conditions of the Right Issue, including deciding on the Record date, determining the rights issue price, rights entitlement ratio, appointment of intermediaries and other related matters.

Source : Equity Bulls

Keywords

ARCFinance FundRaising RightsIssue