FNEL decides to invest up to Rs200mn in Real Estate sector

MG News | November 04, 2021 at 01:44 PM GMT+05:00

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November 4, 2021 (MLN): First National Equities Limited (FNEL) has decided to invest up to Rs200 million from time to time in Real Estate Sector.

The investment will be made by investing in the proposed subsidiary (whether or not under REIT scheme) by subscribing at par for fully paid-up ordinary shares, as per terms and conditions disclosed to the member, the company’s notification to Exchange said.

As per the company, this resolution will be valid for a period of one year starting from the date of approval by members and the Chief Executive Officer and or Chief Financial Officer.

The company also decided to sell an investment in Kingbhai Digisol Private Limited in part or full at the current market rate and by adopting any manner as may be deemed appropriate in the best interest of the company. This resolution will also be valid for a period of one year starting from the date of approval by members and the Chief Executive Officer and Chief Financial Officer.

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