Vax Housing Finance To Accumulate Rs 15 Crore Worth Of Fresh Funds (26-Aug-2010)
Vax Housing Finance Corporation has decided to accumulate fresh funds of up to Rs 15 crore through issue of equity shares to its Indian promoters or strategic investors or foreign investors. The shares will be allotted on preferential basis.
The board of the company has approved the proposal for the same during its recently held meeting. Meanwhile, the company has not disclosed the purpose behind raising of fresh funds.
Vax Housing Finance Corporation is engaged in financial services business. The company had reported a net profit of Rs 11.29 lakh for the quarter ended June 30, 2010, up 56.59% over Rs 7.21 lakh for the quarter ended June 30, 2009. Its total income for the quarter stood at Rs 22.19 lakh against Rs 16.54 lakh for the year ago period, registering a growth of 34.16%.
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