FSN E-Commerce Ventures Ltd approves investment proposals

The Fundraise & Investment Committee of the Board of Directors of FSN E-Commerce Ventures Limited, on Wednesday, June 28, 2023, has approved the following investment proposals:

- To make further investment up to INR 200 million in FSN International Private Limited ('FSN International'), a wholly owned subsidiary of the Company, on rights basis; and

- To make further investment up to USD 2 million by FSN International in one of its overseas subsidiaries viz., Nessa International Holdings Limited ('Nessa International').

Upon completion of the aforesaid transactions, FSN International will continue to be wholly owned subsidiary of the Company and Nessa International will continue to be subsidiary of FSN International and step down subsidiary of the Company.

Shares of FSN E-Commerce Ventures Ltd was last trading in BSE at Rs. 148.00 as compared to the previous close of Rs. 148.70. The total number of shares traded during the day was 236095 in over 2813 trades.

The stock hit an intraday high of Rs. 150.10 and intraday low of 146.85. The net turnover during the day was Rs. 35001006.00.

Source : Equity Bulls

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