Emerald Finance to Raise Rs.10 Cr Via Preferential Issue
Nov 28, 2024
PNN
Mumbai (Maharashtra) [India], November 28: Emerald Finance Limited (BSE: EMERALD), announced fund raising via the preferential issue of up to 10,00,000 equity shares.
The Company to issue 10,00,000 equity shares at Rs100 per share, including a premium of Rs90 per share, aggregating to Rs10 Cr. This preferential issue is made to nine non-promoter investors, including M/s Minerva Venture Fund (a Mauritius based fund), M/s Amartara Rondo Packaging Industries LLP, and several notable individual investors.
Commenting on the Performance, Sanjay Aggarwal, Managing Director of Emerald Finance Limited said, "Preferential issue is a pivotal step in strengthening the company's financial position and preparing for our next phase of growth. This infusion of Rs10 Cr will provide us with the necessary capital to expand our portfolio and enhance our service offerings, aligning with our vision to be one of the leaders in the financial services sector.
Our EWA product is gaining a good response and we are expanding these services as recently we have onboared many clients for EWA services. The fund support will bring strong growth momentum for us in near future.
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