Rapid Investments has received an approval to issue and allot 960000 Equity Shares of Rs 10 each aggregating to Rs 96 lakh on preferential basis to Pallavi Synthetics (non-promoter group). The Board of Directors in its meeting held on December 26, 2017, approved the same.
The board also approved the increase in borrowing limits of the company up to Rs 100 crore.
Rapid Investments is an Investment Company to Acquire, Purchase, Exchange, Underwrite, Guarantee, Subscribe, Hold, Sell, Hypothecate and deal in Shares, Stocks, Debentures, Debenture Stocks, Bonds, Obligations and Securities Issued. Rapid Investments also act as Financiers, Investors and Finance Broker.