Board of Arman Financial Services approves issuance of securities

18 Aug 2022 , 01:31 AM

The Board of Arman Financial Services at its meeting held on 14 August 2022 has approved the following Issuance of up to 217884 unsecured compulsorily convertible debentures of the Company having face value of Rs 1230 with an aggregate maximum amounts on such CCDs of Rs 2679 crore Issue of up to 321134 cumulative Non-participating optionally convertible redeemable preference shares of the Company having face value of Rs 10 each at a premium of Rs 1220 per share for an aggregate maximum amount on such OCRPS of Rs 3949 crore The Board also approved reclassification of authorised share capital of the company from Rs 15 crore dividend into 15 crore equity shares of Rs 10 each into Rs 15 crore dividend into 14 crore equity shares of Rs 10 each and 10 lakh optionally convertible redeemable preference shares of Rs 10 each