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Board of Inditrade Capital approves investment in subsidiaries

Capital Market 

At meeting held on 18 May 2018

The Board of Inditrade Capital at its meeting held on 18 May 2018 has approved the following:

1. In Principle approval for the proposed acquisition of additional equity shares in its material subsidiary-JRG Fincorp, of upto 10% of paid up capital, for an amount not exceeding Rs.24 crore within a period of next 12 months, subject to statutory and regulatory approvals, as may be required.

2. Investment in its wholly owned subsidiary, Inditrade Housing Finance, by way of subscription to the equity shares of the Company for an amount of upto Rs.11 crores.

3. Holding of the 24th Annual General Meeting on 3 August, 2018 at Kochi.

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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, May 18 2018. 19:54 IST