Srestha Finvest Ltd.(BSE: 539217), a leader in financial solutions, has announced that its board has approved Raising of funds by way of issuance of such number of equity shares having face value of Re.1/- each for an aggregate amount up to Rs.200 Crores by way of QIP issue, subject to the receipt of the necessary approvals including the approval of the members of the Company and other regulatory / statutory approvals, as may be required.
Recently, the company has announced excellent earnings for quarter ended 30 June 2024. For Q1FY25, the company reported Revenue from operations at Rs. 39.50 Cr, a growth of 1634% YoY. PAT grew a staggering 6965% YoY, from Rs. 0.44 Cr (Q1FY24), to Rs. 31 Cr (Q1FY25). PAT margins grew from 19.27% to 78.50% (Q1FY25).
Earlier, the company announced that in continuation of existing business arrangement between Srestha Finvest Ltd. (Srestha) and Felix Industries Ltd. (Felix) have yet again joined hands through the signing of a Facility Agreement aimed at advancing renewable energy and sustainability initiatives where in Srestha would extend further towards lending in renewable energy and clean water related projects aimed at sustainable development.
Through this fresh agreement, Felix shall secure funding for capital work of plant installation for the order procured by Felix with Aarti Industries Ltd for renewable energy, clean water and water recycle related project for the tune of about Rs. 50 million in total to be funded in two phases. With a aim to further provide robust financial support to a diverse in to Renewable Energy and water segment, fostering sustainability and marking a significant move towards Green Environment and sustainable projects this arrangement would strengthen the financial support to Felix.