Emerald Finance to Raise ₹10 Cr Via Preferential Issue

Emerald Finance Limited (BSE: EMERALD), announced fund raising via the preferential issue of up to 10,00,000 equity shares.

The Company to issue 10,00,000 equity shares at ₹100 per share, including a premium of ₹90 per share, aggregating to ₹10 Cr. This preferential issue is made to nine non-promoter investors, including M/s Minerva Venture Fund (a Mauritius based fund), M/s Amartara Rondo Packaging Industries LLP, and several notable individual investors.

Comment on the Performance Mr. Sanjay Aggarwal, Managing Director of Emerald Finance Limited said, "Preferential issue is a pivotal step in strengthening the company’s financial position and preparing for our next phase of growth. This infusion of ₹10 Cr will provide us with the necessary capital to expand our portfolio and enhance our service offerings, aligning with our vision to be one of the leaders in the financial services sector.

Our EWA product is gaining a good response and we are expanding these services as recently we have onboared many clients for EWA services. The fund support will bring strong growth momentum for us in near future.

Shares of Emerald Finance Ltd was last trading in BSE at Rs. 106.68 as compared to the previous close of Rs. 104.59. The total number of shares traded during the day was 44324 in over 33 trades.

The stock hit an intraday high of Rs. 106.68 and intraday low of 106.68. The net turnover during the day was Rs. 4728484.00.

Source : Equity Bulls

Keywords

EmeraldFinance INE030Q01015 FundRaising PreferentialIssue