Board of Arman Financial Services approves raising funds aggregating Rs 125 crore

At meeting held on 12 December 2019

The Board of Arman Financial Services at its meeting held on 12 December 2019 has transacted the following -

Allotted of 7,82,908 equity shares ordinary equity shares of Rs. 10/- each to the holder of 12,04,474 class 'A' ordinary equity shares (unlisted- DVR5) pursuant to scheme of arrangement approved by National Company Law Tribunal.

Above shares allotted, shall rank pari passu with the existing equity shares of the Company in all respects. Upon the allotment of these 7,82,908 equity shares, the paid-up capital of the Company has increased to Rs. 8,45,01,440/- divided into 84,50,144/- equity shares of face value of Rs.10/- each.

Approved the fund raising option through one or more Qualified Institutions Placement of equity shares, compulsory convertible debentures / other convertible securities / warrants or a combination thereof for an aggregate amount of Rs. 125 crore subject to the approval of shareholders and/or other regulatory / statutory approvals.

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