DiGiSPICE Technologies Limited to invest further in Spice Money Ltd

Spice Money Limited (SML), a subsidiary of DiGiSPICE Technologies Limited is having Bharat Bill Payment authorization from Reserve Bank of India (RBI) and is required to maintain Rs. 100 Crore Net worth all the time as a prime condition of this Authorization.

With a view to maintain the minimum net worth of Rs. 100 crore at SML, the Board of Directors of the Company in its meeting held on 31st March, 2021 has considered and approved the proposal for infusion of funds for an amount not exceeding Rs. 33 crores, by way of investment in 5% Cumulative Compulsory Convertible Preference Shares of Rs. 10/- each being offered by SML.

Shares of DiGiSPICE Technologies Limited (formerly Spice Mobility Limited) was last trading in BSE at Rs.53 as compared to the previous close of Rs. 55.75. The total number of shares traded during the day was 41199 in over 194 trades.

The stock hit an intraday high of Rs. 58.5 and intraday low of 53. The net turnover during the day was Rs. 2189662.

Source : Equity Bulls

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