NBFC Srestha Finvest board announces rights issue - Check record date and other details

NBFC Srestha Finvest has fixed a record date for its upcoming rights issue. The company has already informed exchanges that it will be raising a total of Rs 48 crore and has fixed the record date. However, the company has now informed exchanges about the change in the record to June 24, 2024 from earlier June 21, 2024.

"in terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 [“SEBI (LODR), Regulations”] and rules made there under, the new Record Date is now fixed for Monday, June 24, 2024 as ‘Record Date’ for the purpose of determining the eligibility of shareholders of the Company for the purpose of determining the equity shareholders who shall be entitled to receive the Rights Entitlement in the Rights Issue," the company said in a release.

The total number of securities proposed to be issued is 24 crore of Rs 2 face value for an amount aggregating Rs 48 crore. The rights issue will open on July 4 and close on July 18.

Earlier, the company announced its Q4 results. According to an exchange filing, the company's operating revenue in the fourth quarter of FY2024 was Rs 5.63 crore. It was Rs 3.35 crore in the previous quarter and Rs 69 lakh in the Q4 of the last financial year.

The company also said that its profit before tax in the fourth quarter of the last financial year was Rs 5.19 crore. It was -46 lakh rupees in the third quarter of FY2024 and -4.59 crore rupees in the fourth quarter of the last financial year.