Board okays equity issue, fintech pivot; appoints new directors
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Rose Merc board approved a preferential issue of 3 lakh equity shares at Rs 90 each to Zclus India and up to 6.06 lakh convertible warrants at Rs 90 each to non-promoters, subject to postal ballot. It will alter its MoA to add Payment Aggregator, PPI and payment gateway businesses, pivoting toward fintech. Also approved a Rs 10 crore unsecured loan to subsidiary Virtual Gain Technologies, an ESOP grant of 3.5 lakh options to a senior VP, and two new director appointments.
Equity and warrant issue will dilute existing shareholders. MoA change signals a strategic shift into fintech. Loan to subsidiary and ESOP grants are routine.