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Board of Future Supply Chain Solutions approves preferential issue of shares to Nippon Express

Capital Market 

At meeting held on 20 September 2019

Future Supply Chain Solutions announced that the Board of Directors of the company at its meeting held on 20 September 2019 has approved the following -

1. Issue of equity shares of face value Rs. 10 each in the Company at an issue price of Rs. 664 per equity share (including premium of Rs.654 per equity share) aggregating to Rs.251.61 crore on preferential basis to Nippon Express (South Asia & Oceania), a foreign company incorporated under the laws of Singapore.

Nippon Express (South Asia & Oceania), is a part of the Nippon Express Group - Japan.

2. Execution of the following agreements with respect to the issue of equity shares on a preferential basis to Nippon Express (South Asia & Oceania) - Share Subscription Agreement and Shareholders' Agreement.

3. Convening of an extraordinary general meeting of the members of the Company on Saturday, the 19 October 2019 for obtaining approval of the members for the proposed preferential issue of equity shares.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, September 20 2019. 13:39 IST