The company said that it is intended to enhance market liquidity, broaden the shareholder base, and make shares more accessible to small investors.
Srestha Finvest has informed exchanges that it board will will meet on August 19 to deliberate on a proposal for fundraising to be employed in one or more trenches.
“Pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the meeting of Board of Directors of our Company is scheduled to be held on Monday August 19, 2024 at the Register Office of the Company to transact the following major businesses… to augment the financial resources of the Company via funds raising by way of issue of equity shares/convertible instruments/other securities through preferential allotment, right issue, QIP’s, ADR GDR, FCCB or any other method or combination thereof, in one or more trenches, the company said in a stock exchange filing.
Earlier, the company approved 1:2 stock split i.e. each existing stock with Rs 2 face value will be divided into two Re 1 face value shares.
“..approved and recommended for sub-division of Company’s 1 (One) Equity Share of Face Value of Rs. 2/- each into 2 (Two) Equity Shares of Face Value of Re. 1/- each held as on the Record date which shall be decided for this purpose,” the company said in an exchange filing.
The company said that it is intended to enhance market liquidity, broaden the shareholder base, and make shares more accessible to small investors.
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