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Facor Alloys has informed the BSE that its board of directors will meet on August 11 to discuss, among other matters, a proposal to raise funds through issue of redeemable preference shares to group/associate companies. Details regarding the amount of funds proposed to be raised and the purpose for which it is being raised were not given. Investors and analysts will keep an eye on related developments.
Sakthi Finance has informed the BSE that its board of directors will meet on August 10, to consider and approve its unaudited financial results for the quarter ended June 30, 2017 and mull an issue of secured, redeemable, non-convertible debentures and other debt securities on private placement basis. Neither the size of funds mop-up nor the purpose of the exercise has been spelt out in the communiqué to the stock exchange.
Aurionpro Solutions has informed the exchanges that it has completed the sale of its IT services business in the US to Saicon Consultants Inc, a leading professional services company. Aurionpro Solutions said the sale comes into effect immediately. The sale is in line with its strategic direction to accelerate revenue growth of its high margin core businesses and divest non-core businesses. The deal allows the company to focus and grow its three core IP-centric businesses - digital innovation, enterprise security and industry solutions for banking and logistics.
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The proceeds of the issue will be used for lending activities and for other general corporate purposes, as per the draft prospectus filed with Securities and Exchange Board of India (Sebi).