Board Meeting29 Sept 2024, 12:45 am
IFL Enterprises Ltd Approves Fund Raising of Rs. 98.92 Crores and Increase in Authorized Share Capital
AI Summary
IFL Enterprises Ltd announced the outcome of its Board Meeting held on September 27, 2024. The company has approved the issuance of up to 70,65,71,429 fully convertible warrants to non-promoter public category at a price of Rs. 1.40 per warrant, aiming to raise Rs. 98.92 crores. The company has also decided to increase its authorized share capital from Rs. 75,06,00,000 to Rs. 146,00,00,000, subject to members' approval.
Key Highlights
- Issue of securities on preferential basis to raise funds of up to Rs. 98.92 crores.
- Issuance of 70,65,71,429 fully convertible warrants to non-promoter public category.
- Warrants to be issued at a price of Rs. 1.40 per warrant.
- Increase in authorized share capital from Rs. 75,06,00,000 to Rs. 146,00,00,000.
- Proposed amendment in the Capital Clause of Memorandum of Association of the Company.