Fortune Financial Services India Ltd approves QIP

The Board of Directors of Fortune Financial Services India Ltd at its meeting held on August 18, 2014, has decided to raise the fund through Institutional Placement Program (IPP) in order to bring down the promoters holding to 75% as permitted by SEBI, subject to approval of the members in the ensuing Annual General Meeting (AGM).

The Board has passed enabling resolution for raising the funds through Rights Issue, QIP and other mode up to a limit Rs. 250 Crores, subject to approval of the members in the ensuing AGM and the authority delegated to the Internal Finance Committee to take appropriate decision in this regard.

The Board approved change in registered office of the company from K. K. Chambers, 2nd Floor, Sir P. T. Marg, Fort, Mumbai 400001 to Naman Midtown, "A" Wing, 20th Floor, Senapati Bapat Marg, Elphinstone Road, Mumbai 400013 with effect from August 18, 2014.

The Board has decided to hold the 23rd Annual General Meeting (AGM) of the members of the company on September 22, 2014 and approved the Notice calling the AGM.

Shares of FORTUNE FINANCIAL SERVICES (INDIA) LTD. was last trading in BSE at Rs.124 as compared to the previous close of Rs. 126.5. The total number of shares traded during the day was 101 in over 6 trades.

The stock hit an intraday high of Rs. 124 and intraday low of 124. The net turnover during the day was Rs. 12524.

Source : Equity Bulls

Keywords