Regency Fincorp Ltd approves preferential issue at Rs. 14.25 per share

The Board of Directors of Regency Fincorp Limited ("Company"), at its meeting held on Saturday, 6 January, 2024 at 12:00 P.M. has considered and approved the issuance of upto 7894732 (Seventy Eight Lakhs Ninety Four Thousand Seven Hundred and Thirty Two only) Equity Shares on Preferential Basis to the Promoters/Non-Promoters in accordance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations"), as amended, and other applicable laws and subject to the approval of Shareholders of the Company at the forthcoming Extra-ordinary General Meeting.

The Board considered and approved Friday, 5 January, 2024 as the Relevant date in terms of Regulation 161 of Chapter V of SEBI ICDR Regulations, 2018 for the purpose of proposed preferential issue of upto 7894732 (Seventy Eight Lakhs Ninety Four Thousand Seven Hundred and Thirty Two only) Equity Shares on Preferential Basis to the Promoters/NonPromoters Category at Rs. 14.25/- per share (including Rs. 4.25/- as Premium determined by the Registered Valuer in accordance with Regulation 164 of SEBI ICDR Regulations, 2022).

The board approved the increase in Authorized Share Capital of the Company pursuant to the provisions of Section 13, 61, 64 and other applicable provisions, if any of the Companies Act, 2013 and the Articles of Association of the Company from the existing Authorized Share Capital of Rs. 45,00,00,000/- (Rupees Forty Five Crores Only) divided into 45000000 (Four Crores Fifty Lacs) Equity shares of Rs. 10/- each to Rs. 50,00,00,000/-( Rupees Fifty Crores Only) divided into 50000000 (Five Crores) Equity shares of Rs. 10/- each and accordingly to amend Clause V of the Memorandum of Association of the Company subject to the approval of the Shareholders of the Company in the forthcoming Extra-ordinary General Meeting.

Shares of Regency Fincorp Ltd was last trading in BSE at Rs. 11.86 as compared to the previous close of Rs. 11.76. The total number of shares traded during the day was 34776 in over 119 trades.

The stock hit an intraday high of Rs. 11.99 and intraday low of 11.56. The net turnover during the day was Rs. 411527.00.

Source : Equity Bulls

Keywords

RegencyFincorp INE964R01013 FundRaising PreferentialIssue