Arman Financial Services Ltd allots 217477 shares

The Board of directors of Arman Financial Services Limited by way of circular resolution on September 30, 2023, have approved the allotment of 2,17,477 (Two lakh seventeen thousand four hundred and seventy seven) Equity Shares, having a face value of Rs. 10/- each upon conversion of:

- 65,040 Compulsory Convertible Debentures ("CCDs") of face value of Rs. 1,230/- per CCD and

- 1,52,437 Optionally Convertible Redeemable Preference Shares ("OCRPS") of face value of Rs. 10/- each (Issued at a premium of Rs. 1,220/- per OCRPS)

at a conversion price of Rs. 1,230/- per equity shares (including premium of Rs. 1,220/- per equity share) as per the terms of the issue.

Pursuant to the aforesaid allotment, the issued, subscribed and paid up Equity share capital of the Company stands increased from 84,93,579 equity shares of Rs. 10/- each amounting to Rs. 8,49,35,790 to 87,11,056 equity shares of Rs.10/- each amounting to Rs. 8,71,10,560.

Shares of Arman Financial Services Limited was last trading in BSE at Rs. 2171.15 as compared to the previous close of Rs. 2205.25. The total number of shares traded during the day was 1246 in over 337 trades.

The stock hit an intraday high of Rs. 2209.95 and intraday low of 2145.00. The net turnover during the day was Rs. 2712608.00.

Source : Equity Bulls

Keywords

ArmanFinancialServices INE109C01017 SharesAllotment Conversion CCDs OCRPS