K K Fincorp Limited to merge NBFCs of the group

As per Reserve Bank of India (RBI) norms, one group should not have more than one NBFC. At present, the Group has three Registered NBFCs with RBI. Accordingly, in the meeting of Board of Directors held today, the Board intends to amalgamate all the NBFCs of the groups into one Company subject to all requisite statutory and regulatory approvals and conveyed the same to RBI.

Shares of K K Fincorp Limited was last trading in BSE at Rs. 23.55 as compared to the previous close of Rs. 24.78. The total number of shares traded during the day was 647 in over 7 trades.

The stock hit an intraday high of Rs. 26.01 and intraday low of 23.55. The net turnover during the day was Rs. 15801.00.

Source : Equity Bulls

Keywords

KKFincorp INE509J01013 NBFCs Amalgamation