Centrum Capital Ltd approves warrants issue, to raise Rs. 750 crore

The Board of Directors of Centrum Capital Ltd at its Meeting held on January 03, 2018 has approved the issue of convertible warrants on preferential basis to BG Advisory Services LLP, being a corporate entity forming part of the Promoter Group of the Company, up to a maximum amount of Rs. 300 Crore and raising of funds through issue of securities, in one or more tranches, upto a sum not exceeding Rs. 750 Crore.

The shareholders' approval for both the above matters shall be obtained through Postal Ballot process.

The Board also approved raising of funds upto Rs. 750 Crore only by way of offer, issue and allotment equity shares on a rights basis (Right Issue), at such issue price and right entitlement ratio as may be decided by the Board.

Further Board has authorised Fund Raising Committee to do the required process and decide on all the matters relating to the right issue in consultation with Lead Manager(s).

Shares of CENTRUM CAPITAL LTD. was last trading in BSE at Rs.77.5 as compared to the previous close of Rs. 75.15. The total number of shares traded during the day was 1509380 in over 2858 trades.

The stock hit an intraday high of Rs. 77.9 and intraday low of 74.75. The net turnover during the day was Rs. 115897506.

Source : Equity Bulls

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