Saregama India board approves fund raising of Rs750cr; Stock dips 2%

The Board of Directors has also decided the appointment of Deepak Jain as interim Chief Financial Officer of the Company.

Sep 16, 2021 01:09 IST India Infoline News Service

Saregama India Ltd has informed to the exchange on Thursday regarding raising of funds by further issue of securities by way of private placement or preferential issue or public issue or through any other permissible mode for an aggregate amount not exceeding Rs750cr.

The Board of Directors has also decided the appointment of Deepak Jain as interim Chief Financial Officer of the Company from the date hereof till such date when the Chief Financial Officer who is currently on medical leave, resumes office.

At around 1:37 PM, Saregama India Ltd was trading at Rs4,095 apiece down by Rs83.35 or 1.99% from its previous closing of Rs4,178.35 apiece on the BSE.

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