Board of Arman Financial Services approves allotment of securities aggregting Rs 115 cr

4 Oct 2022 , 01:35 AM

The Board of Arman Financial Services has approved the allotment of securities worth Rs 115 crore to marquee investors on a preferential basis 1 Allotment of 624388 Unsecured Compulsorily Convertible Debentures CCDs on preferential basis to Investors belonging to non-promoter category The total amount raised is approximately Rs 7680 crore Some of the marquee investors include funds controlled by Singapore based Sixteenth Street Capital and USA based Seven Canyons Advisors Other investors include both domestic and foreign individuals 2 Allotment of 310972 Optionally Convertible Redeemable Preference Shares OCRPS on preferential basis belonging to non-promoter category The total amount raised is approximately Rs 3825 crore The investors include a mix of individuals and family offices