Shares of Mufin Green Finance traded in the green on Friday as the company has informed exchanges that it will consider raising funds. The company said that a meeting of the Committee of Directors is scheduled to be held on July 30 to consider and approve the raising of funds.
“A meeting of the Committee of Directors (“For Issue of Debentures”) is scheduled to be held on Tuesday, July 30, 2024, inter-alia to consider and approve raising of funds by way of private placement of Unlisted, Secured, Non-Convertible Debentures,” the company said in a filing.
Meanwhile, the counter opened at Rs 113 against the previous close of Rs 113.05 on the BSE. It gained further to touch the high of Rs 114.95. Last seen, the counter held firmly in green and was trading at Rs 114.15.
Earlier in March, the NBFC approved the allotment of 9,30,000 (Nine Lakh Thirty Thousand) equity shares with a face value of Rs 1 each through a preferential allotment.
The warrants had an issue price of Rs 63.30 each and upon conversion, investors needed to pay the remaining balance amount i.e. Warrant Exercise Price aggregating to Rs 4,41,51,750.
Mufin Green Finance is a non-banking finance company. It is focused on financing in the electric vehicle ecosystem, including two-wheelers, three-wheelers, four-wheelers, fast chargers and swappable batteries. The company has a presence in 14 states in north India.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)
