Penny Stock Below Rs 5 To Consider Fundraising Proposal: Check Company’s Details

The board of directors of Srestha Finvest, a small-cap firm in the financial services industry, has announced that it will convene shortly to deliberate on a proposal for fundraising to be employed in one or more trenches.

"Pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the meeting of Board of Directors of our Company is scheduled to be held on Monday August 19, 2024 at the Register Office of the Company to transact the following major businesses: 1. to augment the financial resources of the Company via funds raising by way of issue of equity shares/convertible instruments/other securities through preferential allotment, right issue, QIP's, ADR GDR, FCCB or any other method or combination thereof, in one or more trenches; 2. To appoint requisite professionals, experts, merchant bankers, legal advisors and other intermediaries for fund raising; 3. To seek members' approval by means of passing the requisite resolution(s) for the above-said board decisions and other matters connected therewith and/or incidental thereto; and 4. To consider any other matter, with the permission of the Chair," said Srestha Finvest in a stock exchange filing.

"We wish to inform you that the Company has on August 06, 2024 completed the dispatch of the Postal Ballot Notice to all the members whose name appears in the Register of Members/ List of Beneficial Owners as on August 02, 2024 through electronic mode to the members whose email IDs are registered in the records of Company's Registrar & Share Transfer Agent / Depositories for seeking approval of the members of the Company by e-voting by electronic means for Sub-division (stock split) of every 1 (One) equity share of face value of Rs. 2/- each into 2 (Two) equity shares of Face Value of Re. 1/- each and to consider and approve alteration of Capital Clause of the Memorandum of Association of the Company. The Company has engaged with the services of Central Depository Services (India) Limited for providing the e-voting facility and the e-voting period will commence from Wednesday, August 07, 2024 (from 9.00 AM) and end on Thursday, September 05, 2024 (till 5.00 p.m.)," Srestha Finvest informed stock exchanges last week.

"We would like to inform you that the meeting of Board of Directors will be held on August 14, 2024 to consider as under: 1. To consider and approve Un-Audited Financial Results for the quarter ended June 30, 2024. 2. To consider and take on record other compliance related matters pertaining to quarter ended 30/06/2024 and other business propositions, matters relating to the same. 3. Any Other business with the permission of the Chair," Srestha Finvest said in a stock exchange filing.

Chennai, Tamilnadu is the registered office of Srestha Finvest Limited, a public limited company registered with the Registrar of Companies in Tamilnadu. The primary activities of the company are finance, hire purchase, leasing, movable and immovable assets, lending money against securities, and hire purchase. The Bombay Stock Exchange Limited and the Metropolitan Stock Exchange Limited both list the company's shares. As a Category 'B' NBFC Company, the company is registered as a Non-Banking Financial Company with the Reserve Bank of India.