SPS Finquest Ltd board recommends 5:4 bonus issue

The Board of Directors of SPS Finquest Ltd in its meeting held to-day i.e. 2nd June, 2021, has recommended issue of Bonus Shares in ratio of five (5) Equity Shares for every four (4) Equity Shares held and increase the Authorized Share Capital from Rs. 5,00,00,000/- to Rs. 12,00,00,000/-.

The board approved issue of private placement / preferential basis 2,500 0.01% Compulsorily Convertible Debentures (CCDs) of Rs.1,00,000/- each aggregating to Rs.25,00,00,d00/- (Rupees twenty five crores).

The board approved the proposal for migrating the Company's Equity capital from SME platform to Capital Market Segment (Main Board) of BSE Ltd.

The above proposals are subject to necessary approval of the shareholders of the Company, BSE Ltd. and other regulatory authorities as applicable.

Shares of SPS Finquest Ltd was last trading in BSE at Rs.150 as compared to the previous close of Rs. 145.4. The total number of shares traded during the day was 8000 in over 10 trades.

The stock hit an intraday high of Rs. 159 and intraday low of 150. The net turnover during the day was Rs. 1252800.

Source : Equity Bulls

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