Warrant conversions, higher borrowing limit and auditor changes approved
AFIL · price
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Akme Fintrade board allotted 1.30 crore equity shares via warrant conversion: 30 lakh shares to Pushpa Jugraj Jain at Rs 11.10 each and 1 crore shares to Stellant Securities at Rs 7 each, together bringing in about Rs 7.75 crore. Paid-up capital rose to Rs 43.67 crore. The board also approved raising authorised capital from Rs 50 crore to Rs 60 crore, hiking borrowing limit to Rs 1,200 crore, appointing Ms Ankita Jain as new internal auditor, and Shyam S Gupta and Associates as statutory auditor for three years. Items remain subject to shareholder approval.
Dilution of around 1.30 crore shares may pressure EPS. Big jump in borrowing limit signals expansion plans; audit changes are routine.