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Rainbow Foundations to raise funds on private placement basis

12 Mar 2019 Evaluate

Rainbow Foundations has received an approval for the allotment of 1,01,50,000 Non-Convertible Redeemable Cumulative Preference Shares (NCRCPS) at a face value of Rs 10 each aggregating to Rs 10,15,00,000 on Private Placement basis in favour of Avance Technologies.

The Board of Directors of the Company which passed Circular resolution on March 11, 2019, approved the same.

Rainbow Foundations (RFL) is a gigantic construction company with an enviable track record in the real estate scenario of Chennai.

Peers
Company Name CMP
Lodha Developers 1188.00
Prestige EstatesProj 1628.00
Dilip Buildcon 400.75
DLF 750.80
Oberoi Realty 1717.35
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