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Corporate News
25-Apr-18
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Board of SORIL Holdings & Ventures approves preferential issue of Rs 330 crore
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At meeting held on 25 April 2018
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SORIL Holdings & Ventures announced that to capitalize and fund company's subsidiaries for undertaking the proposed businesses of Life Insurance, General Insurance & Consumer Platform and to further augment the long-term resources to improve the financial leveraging strength of the Company and its subsidiaries, the Board of the Company, at its meeting held on approved the preferential offer and issue of an aggregate of upto 1,00,00,000 (One Crore) equity shares at an issue price of Rs 330 (including premium of Rs 328) per equity share, for cash consideration, to the foreign portfolio investor(s), registered with the SEBI, namely Steadview Capital Mauritius, ABG Capital, and LTR Focus Fund (Investors). The total equity investment by the Investors would aggregate Rs 330 crore in the Company.
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