SMC Global files fresh papers with Sebi for its public issue
27/10/2014 16:58
Financial services company, SMC Global Securities has filed fresh papers with market regulator Sebi to mop up Rs 125 crore through public issue, reported PTI. The company has filed fresh draft documents with Sebi as the regulator's earlier approval -- valid for one year-- has lapsed, as per the media reported. SMC Global Securities had received approval in May 2013, carrying a validity of one year, as per Sebi's Issue of Capital and Disclosure Requirements (ICDR) Regulations. However, the company did not launch the same due to bad market conditions. "Further Public Offer of equity shares of face value of Rs 2 each of SMC Global Securities Ltd aggregating up to Rs 1,250 million," the company said in its draft prospectus made public by Sebi today. It comprises a fresh issue of equity shares worth Rs 107 crore and an offer for sale of equity scrips to the tune of Rs 18 crore by Millennium India Acquisition Company Inc. "The net proceeds shall be utilised towards margin maintenance with stock exchanges, investments into our subsidiaries, namely--Moneywise Financial Services Private Limited and SMC Capitals-- and Limited and general Corporate purposes," as per the draft documents.
27/10/2014 16:58
Financial services company, SMC Global Securities has filed fresh papers with market regulator Sebi to mop up Rs 125 crore through public issue, reported PTI. The company has filed fresh draft documents with Sebi as the regulator's earlier approval -- valid for one year-- has lapsed, as per the media reported. SMC Global Securities had received approval in May 2013, carrying a validity of one year, as per Sebi's Issue of Capital and Disclosure Requirements (ICDR) Regulations. However, the company did not launch the same due to bad market conditions. "Further Public Offer of equity shares of face value of Rs 2 each of SMC Global Securities Ltd aggregating up to Rs 1,250 million," the company said in its draft prospectus made public by Sebi today. It comprises a fresh issue of equity shares worth Rs 107 crore and an offer for sale of equity scrips to the tune of Rs 18 crore by Millennium India Acquisition Company Inc. "The net proceeds shall be utilised towards margin maintenance with stock exchanges, investments into our subsidiaries, namely--Moneywise Financial Services Private Limited and SMC Capitals-- and Limited and general Corporate purposes," as per the draft documents.
