Inditrade Capital said that it has received approval for acquisition of additional equity shares in its material subsidiary RG Fincorp, of up to 10 per cent of paid up capital, for an amount not exceeding Rs 24 crore, within a period of next 12 months. The meeting of the Board of Directors of the company held on May 18, 2018, has approved the same, the company said in a filing with BSE. The board has also approved investment in its wholly-owned subsidiary Inditrade Housing Finance, by way of subscription to the equity shares of the company for an amount of up to Rs 11 crore.
Inditrade Capital (formerly known as JRG Securities) is engaged in equity and commodity broking businesses, with strong presence in South India.
UNI JS RJ 1432
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