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Centrum Capital gains 4% as board approves fund raising worth Rs 18000cr

Centrum Capital gains 4% as board approves fund raising worth Rs 18000cr
January 05
00:05 2018
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Shares of Centrum Capital rose 4.5 percent intraday Thursday as the company is going raise Rs 18000 crore.

“The company at its meeting held on January 3 has approved the issue of convertible warrants on preferential basis to BG Advisory Services LLP, being a corporate entity forming part of the promoter group at the company, up to a maximum amount of Rs 300 crore, company said in release.

The company will also raise funds through issue of securities in one or more tranches, upto a sum not exceeding Rs 750 crore.

The company further informed that shareholders’ approval for both the above proposals shall be obtained through postal ballot process.

Besides this, the board also has approved raising of funds up to Rs 750 crore by way of offer, issue and allotment of equity shares of the company to the existing shareholders of the company on a rights basis (rights issue), at such price and right entitlement ratio as may be decided by the board in consultation with lead managers.

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At 11:58 hrs Centrum Capital was quoting at Rs 78.20, up Rs 0.70, or 0.90 percent on the BSE.

Posted by Rakesh Patil

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