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Arman Financial hits 52-week high as board approves Rs66.30 crore fund-raise

16 Aug 2022 , 12:51 PM

Arman Financial Limited informed that the Board of Directors has approved the issuance of Compulsorily Convertible Debentures and Cumulative Non-participating Optionally Convertible Redeemable Preference Shares of the Company.

At around 12.27 PM, Arman Financial’s counter was trading 12.65% higher at Rs1,382.15 per piece, against the previous close of Rs1,226.90 on NSE.

It hit a new intraday high of Rs1418.05 so far in today’s trade.

The company stated that it will issue up to 2,17,884 Unsecured Compulsorily Convertible Debentures of the Company, having a face value of Rs1,230 with the aggregate maximum amounts on such CCDs of Rs26.80 crore. These CCDs will be convertible into a maximum of 2,17,884 Equity Shares and will be on a preferential basis.

Further, the board also approved the issuance and offer of up to 3,21,134 Cumulative Non-participating Optionally Convertible Redeemable Preference Shares of the Company with a face value of Rs10 each at a premium of Rs1,220 per share, aggregating to Rs39.50 crore. These CCDs will be convertible into a maximum of 3,21,134 Equity Shares and will be on a preferential basis.

The company posted a 58.77% yoy growth in total income of Rs7,890.05 lakh in Q1FY23 as compared to Rs4,969.62 lakh in Q1FY22. While PAT jumped 339.88% yoy at Rs1571.46 lakh in Q1FY23 as against Rs357.25 lakh in Q1FY22.

Related Tags

  • Arman Financial Funds
  • Arman Financial News
  • Arman Financial Results
  • Arman Financial Stock
  • Arman Financial Updates
  • fund raise
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