The Board of Directors has approved issue of equity shares to the following investors:
- Meridian Investments - 19,00,000 shares - Rs16,86,25,000/-
- Anand Jain - 12,00,000 shares - Rs10,65,00,000/-
- Himanshi Kela - 5,00,000 shares - Rs4,43,75,000/-
- McJain Infoservices Private Limited - 4,00,000 shares - RsRs3,55,00,000
- Samir Arora - 3,00,000 shares - Rs2,66,25,000/-
- Latika Ahuja - 2,50,000 shares - Rs2,21,87,500/-
Further, "as important as the money itself, we have sought to onboard marquee, best-in-class investors of the Indian capital markets, especially those who straddle both, the old economy and new age enterprises. This is a strong reaffirmation of the proposed Prime 3.0", it added.
This equity funding round is led by Meridian Investments (family office entity of TV Mohandas Pai) and includes Anand Jain (eminent serial entrepreneur and investor), Himanshi Kela (family of Madhusudan Kela), McJain Infoservices Private Limited (entity owned by Tarun Jain), Samir Arora (eminent fund manager) and Latika Ahuja (ex-banker and seasoned investor).
These investors would significantly embellish the current cap table of Prime; especially critical, as the Company embarks on a bold new plan that encompasses the steady cash flows of the traditional Investment Banking business with the exciting upsides of unfettered digital growth being undertaken.
At around 11:47 AM, Prime Securities was trading at Rs115.55 per piece up by Rs5.5 or 5% on the BSE.