The promoters of the Coimbatore-based Sakthi Finance will be injecting additional capital into the company.
This will be done through a preferential offer of 198.93 lakh equity shares of Rs. 10 each at a premium of Rs. 1.10 per share.
It is also proposed to issue 20 lakh redeemable cumulative preference shares of Rs. 100 each for Rs. 20 crore on a private placement basis.
This is pursuant to a circular issued by the Reserve Bank of India on February 17, stipulating that all deposit-taking non-banking finance companies to maintain a capital adequacy ratio of 15 per cent by March 2012.
