Future Capital Holdings Ltd has informed that the Board of Directors of the Company at its meeting held on March 11, 2008, inter alia, has considered and approved the following:
1. Investment in Centrum Direct Ltd:
The Board of Directors have approved an investment in Centrum Direct Ltd, a Company engaged in foreign exchange money changing business and presently, a wholly owned subsidiary of Centrum Capital Ltd. The proposed Investment will be of an amount of approximately Rupees Seventy Five Crore and would amount to a 50.1% stake of the paid up equity share capital of Centrum Direct Ltd, post the investment by the Company.
2. Investment in Centrum Wealth Managers Ltd:
The Board of Directors have also approved an investment in Centrum Wealth Managers Ltd, a Company that will undertake activities of retail broking (including portfolio management services) and distribution of financial and insurance products and services. The proposed investment will be of an amount of approximately Rupees Twenty Five crore and would amount to a 50.1% stake of the paid up equity share capital of Centrum Wealth Managers Ltd, post the investment by the Company.
1. Investment in Centrum Direct Ltd:
The Board of Directors have approved an investment in Centrum Direct Ltd, a Company engaged in foreign exchange money changing business and presently, a wholly owned subsidiary of Centrum Capital Ltd. The proposed Investment will be of an amount of approximately Rupees Seventy Five Crore and would amount to a 50.1% stake of the paid up equity share capital of Centrum Direct Ltd, post the investment by the Company.
2. Investment in Centrum Wealth Managers Ltd:
The Board of Directors have also approved an investment in Centrum Wealth Managers Ltd, a Company that will undertake activities of retail broking (including portfolio management services) and distribution of financial and insurance products and services. The proposed investment will be of an amount of approximately Rupees Twenty Five crore and would amount to a 50.1% stake of the paid up equity share capital of Centrum Wealth Managers Ltd, post the investment by the Company.
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