Financial Daily from THE HINDU group of publications
Tuesday, Sep 24, 2002
Financial Daily from THE HINDU group of publications Tuesday, Sep 24, 2002 |
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Markets
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Rights Issues Money & Banking - NBFCs Lakshmi General rights issue fully subscribed Our Bureau
CHENNAI, Sept. 23 LAKSHMI General Finance (LGF) has announced the full subscription of its rights issue. In a press release, LGF said it had issued 10,00,000 equity shares of Rs.10 each at a premium of Rs 50 per share on rights basis. About 50 per cent of the price, i.e. Rs 30 per share (Rs 5 per share towards capital and Rs 25 per share towards share premium) totalling Rs 3 crore was received before August 31. The balance Rs 3 crore is payable before January 31 next. LGF had also raised Rs.50 crore through a debenture placement at a coupon rate of 8.75 per cent (interest payable annually). It said that its business had grown steadily with disbursements exceeding Rs180 crore and registering a growth of over 40 per cent so far.
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