The expected date of completion of sale/disposal is tentatively by April, 2022.
Confidence Futuristic Energetech allotted 66 lakh equity shares to the company through preferential allotment.
Funds raised from Roots Ventures, Family office of Apar industries and Umesh Sanghvi, HNis and senior professionals from Reckitt, Google, 1BM amongst others.
The Board has also approved the proposal for convening and holding of Extra-Ordinary General Meeting (EGM) of the shareholders of Company.
The Board of Directors has proposed to incorporate one hundred per cent Subsidiary company to be established under the jurisdiction of Sharjah Media City Free Zone.
The Board approved raising of funds by way of offer and issue of equity shares to the existing members of the Company on Rights Basis.
Sharad Kumar Saxena has vast, i.e. over 30 years of experience in IT, in two large service sectors — Railways and Banking.
The Rights Issue which opened on February 07, 2022 was slated to close on February 21, 2022.
The company will pay Rs918 crore to make CMDCL its wholly-owned subsidiary.
The silver bars have a purity of 99.9%, the company said.
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