India's Arman Financial up on plan to allot $14.04 mln securities

Arman Financial Services

29/09/2022 08:27

** Shares of non-banking finance co Arman Financial Services
Ltd  ARLF.NS  rise as much as 3.7% to 1,343 rupees, highest
since Sept. 27
    ** Stock posts its biggest intraday pct gain since Sept. 15
    ** Co says on Thursday it will allot securities worth 1.15
billion Indian rupees ($14.04 million) to marquee investors on
preferential basis  urn:newsml:reuters.com:*:nFWN30Z1O4
    ** Co to allot 624,388 unsecured compulsorily convertible
debentures worth 768 million rupees and  310,972 optionally
convertible redeemable preference shares worth 382.5 million
rupees [https://bityl.co/EmKE
]
    ** More than 2,007 shares change hands by 0711 GMT vs 30-day
avg of 16,342 shares
    ** Stock up 48.69% YTD, up to last close
($1 = 81.8980 Indian rupees)
 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com ;))