Mangal Credit and Fincorp Ltd approves preferential issue

The Board of Directors of Mangal Credit and Fincorp Limited, today i.e. 21st February, 2024, considered and approved the allotment of 2,50,000 (Two Lakhs and Fifty Thousand) Equity Shares of face value of Rs.10/- (Rupees Ten only) each as fully paid up at a price of Rs. 110/-(Rupees One hundred and Ten Only) per equity share and allotment of 15,50,000 (Fifteen Lakhs and Fifty Thousand) Warrants at a price (including the Warrant Subscription price and the warrant exercise price) of Rs. 110/- (Rupees One Hundred and Ten only) each payable in cash ("Warrant Issue Price") on preferential basis to Mr. Hardik Jain, Promoter and Executive Director of the Company, by passing resolution through circulation.

Shares of MANGAL CREDIT AND FINCORP LTD. was last trading in BSE at Rs. 108.70 as compared to the previous close of Rs. 111.05. The total number of shares traded during the day was 41590 in over 79 trades.

The stock hit an intraday high of Rs. 111.50 and intraday low of 108.05. The net turnover during the day was Rs. 4556386.00.

Source : Equity Bulls

Keywords

MANGALCREDITANDFINCORP INE545L01039 PreferentialIssue FundRaising Promoter