MoU14 Aug 2024, 06:22 pm
Motisons Jewellers Ltd. to Raise Rs. 170 Crores via Preferential Issue and Increase Authorized Share Capital
AI Summary
Motisons Jewellers Ltd. has announced its decision to raise funds up to Rs. 170 crores by issuing Fully Convertible Warrants to non-promoter public category. The company also plans to increase its authorized share capital from Rs. 113 crores to Rs. 125 crores. These decisions were made in a board meeting on August 14, 2024, and are subject to shareholder and regulatory approvals.
Key Highlights
- Motisons Jewellers Ltd. plans to raise Rs. 170 crores through a preferential issue of Fully Convertible Warrants.
- The company intends to widen its business horizons and augment its long-term financial resources with this fundraising.
- The company's authorized share capital will be increased from Rs. 113 crores to Rs. 125 crores.
- These decisions are subject to approval by shareholders and regulatory authorities.
- The notice of the postal ballot for these decisions will be sent to the Stock Exchange(s) and to the Members of the Company.