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Facor Alloys has informed the BSE that its board of directors will meet on August 11 to discuss, among other matters, a proposal to raise funds through issue of redeemable preference shares to group/associate companies. Details regarding the amount of funds proposed to be raised and the purpose for which it is being raised were not given. Investors and analysts will keep an eye on related developments. The stock of Facor Alloys closed at ₹4.12, down 1.20 per cent on the BSE.
Sakthi Finance has informed the BSE that its board of directors will meet on August 10, to consider and approve its unaudited financial results for the quarter ended June 30, 2017 and mull an issue of secured, redeemable, non-convertible debentures and other debt securities on private placement basis. Neither the size of funds mop-up nor the purpose of the exercise has been spelt out in the communiqué to the stock exchange. Investors will look out for information related to these issues. The stock of Sakthi Finance closed at ₹34, up 1.04 per cent over the previous close on the BSE.
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