Srestha Finvest Ltd Approves Rs. 100 Crores Funding through QIP, Preferential Issue of Equity Shares, and Increases Borrowing Limit

Srestha Finvest Ltd announced that its Board of Directors has approved raising funds by way of issuing equity shares having a face value of Re.1/- each, for an aggregate amount not exceeding Rs. 100 Crores (Rupees One Hundred Crores only) by way of Qualified Institutional Placement (QIP). The company will also issue up to 93,00,00,000 (Ninety-Three Crores) Equity Shares of Re.1/- each at an issue price of Rs. 1.05/- each including the Premium of Rs. 0.05/-each to investors on a preferential basis. Furthermore, the Board decided to increase the borrowing limits of the Company up to Rs.500.00 Crores (Five Hundred Crores) in terms of Section 180(1)(c) of the Companies Act, 2013. An Extra Ordinary General Meeting of the Company will be held on Friday, November 08, 2024.