Business Daily from THE HINDU group of publications
Sunday, Dec 30, 2007
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Sunday, Dec 30, 2007 ePaper | Mobile/PDA Version |
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Corporate
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Preferential Allotments Money & Banking - NBFCs Manappuram’s pref share issue Kochi Dec. 29 The board of Manappuram General Finance and Leasing has decided to allott 46.8 lakh convertible preference shares of Rs 100 each aggregating Rs 46.8 crore to two Mauritius-based companies – Hudson Equity Holdings and Sequoia Capital. The convertible preference shares would be divided equally between the two companies, a press release from Manappuram Finance has said. The board meeting held on December 20 decided to allot the shares to the two companies. On conversion of the preference shares at a minimum price of Rs 100.27, each of the investors would not be holding more than 14.95 per cent of the paid up capital of the company. The board also decided to constitute a committee to study the feasibilities of merger of Manappuram Finance Tamil Nadu Pvt Ltd, a group company with the parent company. — Our Bureau More Stories on : Preferential Allotments | NBFCs | Foreign Institutional Investors
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