Hasti Finance approves fund raising plan

Hasti Finance Ltd has announced that the Board of Directors of the Company at its meeting held on October 07, 2010, approved the proposal to raise additional funds by way of issue of equity warrants convertible into fully paid up equity shares on preferential basis to promoters and others as decided by the Board upto Rs. 19.00 crores.

The Board approved proposal to increase the Authorized Share Capital of the Company to Rs. 12,01,00,000/- (Rupees Twelve Crore One Lac Only).

The Board approved proposal to change the name of the Company.

The Board also approved the notice convening the Extra-ordinary General Meeting and Explanatory Statement thereto was also approved by the Board of Directors. The Extra-ordinary General Meeting for approval of the said preferential allotments is convened to be held on November 10, 2010.

The stock closed the day at Rs.33.10, up by Rs.0.45 or 1.38%. The stock hit an intraday high of Rs.35.80 and low of Rs.30.20.

The total traded quantity was 0.11 lakhs compared to 2 week average of 0.16 lakhs.

Source : Equity Bulls

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