S.E. Investments Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 13, 2010, the board of S.E. Investments has approved to sub-divide one equity share of Rs. 2 each into two equity shares of Re. 1 each.
The board has also approved to change the name of the company from S. E. Investments to SEIL MICROFIN or SEIL MICRO FINANCE INDIA.Further, the board has approved to increase the borrowing limits of the company upto a sum of Rs. 3 crore.
The company also announced that Punjab National Bank, one of the company’s major credit loan providers, has enhanced the Fund Based Limit from Rs. 300 million to Rs. 450 million and sanctioned a term loan of Rs. 600 Million.
SE Investments will be holding it’s 18th Annual General Meeting of the Company on September 13, 2010.The company stock has hit the lower circuit yesterday and was down by 5%.