Veefin Solutions Approves Up to INR 35 Crore Fundraising via Non-Convertible Debentures
Veefin Solutions Ltd has approved a plan to raise funds through the issuance of Non-Convertible Debentures (NCDs). The board sanctioned the fundraising effort, which is designated as a private placement.The company's board meeting granted approval for an aggregate amount of up to INR 35,00,00,000 for this debt raising exercise. These NCDs are planned to be issued in one or more tranches or series through the specified method.
Details regarding the proposed securities issuance were outlined, confirming the nature and structure of the financial instruments being introduced by the company.
A summary of the key terms associated with the Non-Convertible Debentures is provided below:
| Particulars | Details |
|---|---|
| Type of Securities | Unrated, Unlisted, Secured, Redeemable, Non-Convertible Debentures |
| Issuance Method | Private Placement |
| Maximum Quantity Proposed | Up to 3,50,000 non-convertible debentures |
| Face Value | Rs. 1,000/- each |
| Issue Size | Up to INR 35,00,00,000 |
| Listing Status | Not proposed to be listed on any stock exchange(s) |
The company has authorized identified persons who will determine and finalize the specific terms and conditions of the fund-raising. The details related to the tenure, coupon/interest rate schedule, charge created over assets, and other specifics will be disclosed at the time of the allotment of securities.
Stock Price Movement
Veefin Solutions Ltd finished trading Friday, closing at ₹305.25, as the shares ticked up 0.78% for the day. The stock traded within an intraday range, testing a high of ₹306.95 while holding above the low of ₹302.05.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.