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Centrum Capital declares fiscal-year dividend, plans to raise 10B rupees

Centrum Capital Ltd. declared a dividend for the fiscal year ended March 31, said it plans to raise 10 billion Indian rupees and announced the resignation of its board's nonexecutive directors.

The company said May 29 its board declared a dividend of 5 paise per equity share for the fiscal year, subject to shareholder approval.

The board also approved to raise as much as 10 billion rupees through various modes, including follow-on public offer and qualified institutional placement.

Centrum Capital also said Vivek Vig and Pankaj Thapar resigned as nonexecutive directors from its board, effective the same day.

As of May 29, US$1 was equivalent to 64.54 Indian rupees.