Exchanges has been notified by Srestha Finvest that its board will convene on August 19 to discuss a proposal for using fundraising in one or more trenches.
"In accordance with SEBI Regulation 29 (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to notify you that our company's board of directors will meet on Monday, August 19, 2024, at the company's register office to discuss the following significant business."
In a stock exchange filing, the company stated that its goal was to increase its financial resources through the issuance of equity shares, convertible instruments, and other securities through preferential allotment, right issue, QIPs, ADR GDR, FCCB, or any other method or combination of these, in one or more trenches.
Exchanges has been notified by Srestha Finvest that its board will convene on August 19 to discuss a proposal for using fundraising in one or more trenches.
Previously, the business approved a 1:2 stock split, which means that each current stock with Rs 2 face value will be divided into two Rs 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," according to a filing with the exchange.
The firm stated that it aims to increase market liquidity, widen the shareholder base, and make shares more accessible to small investors.
