Board of Arman Financial Services approves allotment of securities aggregting Rs 115 cr

At meeting held on 29 September 2022

The Board of Arman Financial Services has approved the allotment of securities worth Rs 115 crore to marquee investors on a preferential basis.

1). Allotment of 6,24,388 Unsecured Compulsorily Convertible Debentures (CCDs) on preferential basis to Investors belonging to non-promoter category. The total amount raised is approximately Rs. 76.80 crore. Some of the marquee investors include fund(s) controlled by Singapore based Sixteenth Street Capital and USA based Seven Canyons Advisors. Other investors include both domestic and foreign individuals.

2). Allotment of 3,10,972 Optionally Convertible Redeemable Preference Shares (OCRPS) on preferential basis belonging to non-promoter category. The total amount raised is approximately Rs. 38.25 crore. The investors include a mix of individuals and family offices.

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