Banas Finance has informed that the Board of Directors of the Company on 18th November, 2023 at 1.00 pm (Indian Standard Time) at the Registered office of the Company located at E-109, Crystal Plaza, New Link Road, Andheri West, Mumbai -400 053 considered and approved the following businesses and the same is enclosed, Raising of funds through issuance and allotment of equity shares having face value of ?10.00 (Rupee Ten Only) (‘Equity Shares’) for an aggregate amount of up to 48,50,00,000 (Rupees Forty Eight Crores Fifty Lakhs Only) on right issue basis, on such terms and conditions as may be decided by the Board of Directors of our Company to the eligible equity shareholders of the Company, as on the record date (to be notified subsequently) subject to the receipt of applicable regulatory, statutory approvals, in accordance with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations, 2015, and the Companies Act, 2013 and the rules made thereunder, as amended from time to time, (‘Rights Issue’); Appointment of various intermediaries for the aforesaid Rights Issue; The meeting of Board of Directors of the Company commenced at 1.00 p.m. (Indian Standard Time) and concluded at 2.15 pm (Indian Standard Time).
The above information is a part of company’s filings submitted to BSE.