Future Capital Board approves fund raising proposal

Future Capital Holdings Ltd has announced that the Board of Directors of the Company at its meeting held on June 20, 2009, inter alia, has considered and approved the fund raising proposal.

In principal, the Board approved raising of additional long term funds through issuance of further securities of the Company (not exceeding ten percent of the fully diluted equity share capital of the Company) and / or through debt instruments inter-alia for general corporate purposes, expanding existing businesses and for strategic investments / acquisitions. In this regard, approval of the members would be obtained as required.

The stock was trading at Rs.256.80, up by Rs.12.20 or 4.99%. The stock hit an intraday high of Rs.256.80 and low of Rs.251.

The total traded quantity was 15500 compared to 2 week average of 54898.

Source : Equity Bulls

Keywords