19-Aug-2026      16:06

Safa Systems secures Rs 489 crore allotment, approves borrowing up to Rs 500 crore

Safa Systems & Technologies Limited approved a preferential allotment of up to 23,90,000 equity shares at Rs 20.47 per share to promoters and members of the promoter group for an aggregate consideration not exceeding Rs 4,89,23,300, according to a regulatory filing on Wednesday. The board also approved borrowing up to Rs 500 crore and approved the waiver of excess managerial remuneration for Mr. Faizal Bavaraparambil Abdul Khader and Ms. Sruthi Muhammed Ali, as well as approved increasing remuneration for both individuals. Additionally, the company plans to shift its registered office from Kerala to the National Capital Territory of Delhi, subject to shareholder and government approvals.

News source: Capital Market - Live News