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Janalakshmi Financial to increase share capital

Janalakshmi Financial Services Ltd. plans to raise its authorized share capital to 13.28 billion Indian rupees from 1.28 billion rupees.

The company said Aug. 4 that it is looking to increase its share capital to 13.28 billion rupees divided into 127,600,000 class A equity shares and 1,200,000,000 preference shares.

Currently, the company's share capital is 1.28 billion rupees divided into 127,600,000 class A equity shares.

The move is subject to approval from the company's shareholders at its extraordinary general meeting Aug. 9.

As of Aug. 4, US$1 was equivalent to 63.65 Indian rupees.