Fulford (India) raises Rs 40.25 crore

Allots 7,00,000 equity shares to its promoters Dashtag

Fulford (India) announced that the Company had raised Rs. 40.25 crore by issuing 7,00,000 Equity shares of Rs. 10/- each at a premium of Rs. 565/- per share, to its promoters Dashtag. The funds were raised to provide capital in order to permit the Company to strengthen its position in the market and act on strategic business growth opportunities, as stated in the explanatory statement to the notice dated 16 October 2006 convening the Extra-ordinary general meeting of the company on 15 November 2006.

Out of the aforesaid amount, the Company has utilised Rs. 139 lakhs towards business expansion during the quarter ended 31 March 2015. Total amount utilized by the Company towards business expansion till 31 March 2015 is Rs. 10.93 crore. The remaining balance amount of Rs. 29.32 crore continue to be invested in fixed deposits with banks pending utilisation of the same.

 

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