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SRG Housing Finance moves up on planning to raise funds via equity, debt

SRG Housing Finance is currently trading at Rs. 107.00, up by 2.00 points or 1.90% from its previous closing of Rs. 105.00 on the BSE.

The scrip opened at Rs. 106.00 and has touched a high and low of Rs. 107.00 and Rs. 106.00 respectively. So far 118 shares were traded on the counter.

The BSE group ‘X’ stock of face value Rs. 10 has touched a 52 week high of Rs. 340.00 on 05-Sep-2018 and a 52 week low of Rs. 99.40 on 02-Aug-2019.

Last one week high and low of the scrip stood at Rs. 119.90 and Rs. 99.40 respectively. The current market cap of the company is Rs. 137.80 crore.

The promoters holding in the company stood at 58.64%, while Institutions and Non-Institutions held 0.41% and 40.95% respectively.

SRG Housing Finance is planning to raise funds by way of Equity Shares through public and/or private offerings, and/or on preferential allotment basis including Qualified Institutions Placement (QIP) or any combination thereof or any other mode and terms as may be decided by the board, subject to applicable law, rules and regulations and subject to approval of the shareholders of the company. The meeting of Board of Directors of the company will be held on August 13, 2019, to consider the same.

The company is also planning to borrow/ raise funds by issue of Issuance of Non-Convertible Debentures/ Secured or Unsecured Redeemable Subordilated Debt -Tier-II NCDs/Bonds, in terms of Section 42 of the Companies Act, 2013 read with relevant rules and the Listing Regulations, as amended.

SRG Housing Finance is a housing finance company. The company is engaged in providing home loans for construction, additions, alterations, and repair and renovation purpose.

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