TTI Enterprise Ltd Board Approves Stock Split and Fundraising

The Board of Directors of TTI Enterprise Ltd, at its meeting of June 28, 2022, considered and approved the subdivision of the equity shares of the company from the existing share of one (1) share with a par value of Rs. 10/- each into five (05) shares of capital of par value Re. 2/- each, subject to shareholder approval.

The board also approved the modification of the capital clause of the company’s memorandum of incorporation due to the subdivision of shares subject to shareholder approval.

The Board of Directors has unanimously decided not to fundraise at this stage, as sufficient funds are available on the books to meet current business needs.

The board approved the proposal to change the purpose of the company subject to shareholder and other regulatory approval. This Directorate proposes to engage in credit card, prepaid card, hire purchase, personal loan, commercial loan, SME loan, working capital loan, loan against deposit, loan against property, loan against shares/securities/debentures, loan with or without any security, CGTMS loan to any natural person, company, legal person or any other entity, etc. in the area.

Shares of TTI Enterprise Ltd last traded on the BSE at Rs. 12.92 from the previous close of Rs. 13.01. The total number of shares traded during the day was 35,357 in over 157 trades.

The stock reached an intraday high of Rs. 13.35 and intraday low of 12.51. Net turnover during the day was Rs. 453895.00.

Source: Stock market bulls

Key words

Fund raising

Previous Mid-Year Market Update - Fund Management/ REITs
Next Manappuram finance council approves fund raising up to Rs 770 cr