On 31 March 2021
DigiSpice Technologies announced that Spice Money (SML), a subsidiary of the Company is having Bharat Bill Payment authorization from Reserve Bank of India (RBI) and is required to maintain Rs 100 crore Net worth all the time as a prime condition of this Authorization.With a view to maintain the minimum net worth of Rs 100 crore at SML, the Board of Directors of the company in its meeting held on 31 March 2021 has considered and approved the proposal for infusion of funds for an amount not exceeding Rs 33 crore by way of investment in 5% cumulative compulsory convertible preference shares of Rs 10 each being offered by SML.
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