|
| Exchange Received Time 25/04/2018 17:25:02 Exchange Disseminated Time 25/04/2018 17:25:08 Time Taken 00:00:06 | To capitalize and fund company's subsidiaries for undertaking the proposed businesses of Life Insurance, General Insurance & Consumer Platform and to further augment the long-term resources to improve the financial leveraging strength of the Company and its subsidiaries, the Board of the Company, at its meeting held today has approved the preferential offer and issue of an aggregate of upto 1,00,00,000 (One Crore) equity shares at an issue price of INR 330 (including premium of INR 328) per equity share, for cash consideration, to the foreign portfolio investor(s), registered with the SEBI, namely Steadview Capital Mauritius Ltd, ABG Capital, and LTR Focus Fund (Investors). The total equity investment by the Investors would aggregate INR 330 Crore (Rupees Three Hundred Thirty Crores) in the Company.
For seeking shareholders' approval, to the aforesaid, the Board has convened an EGM of Shareholders of the Company on May 22, 2018.
For details, pls refer the attachment. |
|
|