Baring India will acquire 44.8 per cent stake in brokerage house JRG Securities for 35 million dollar through a preferential issue.The deal is subject to approvals from the Securities and Exchange Board of India (SEBI), shareholders and other regulatory authorities.
The Board of Directors on Friday approved the investment proposal for further consent of shareholders, JRG Securities said in communique to the Bombay Stock Exchange (BSE). The paid-up share capital of the company would increase to Rs 23.17 crore after the proposed preferential allotment from the existing Rs 12.79 crore.Shares of JRG Securities today closed at Rs 58.70, down 9.97 per cent, on the BSE.
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