Continental Securities plans fresh capital raise to fund expansion

New Delhi: Continental Securities proposed another fundraising exercise through issuance of equity shares and securities convertible into equity to support its future business expansion, the company said on Wednesday.

The size, pricing, and other terms of the proposed issue will be decided by the company's board at a later stage, subject to applicable approvals, RBI-registered NBFC firm Continental Securities said.

The funds will support expansion of its mutual fund and gold loan businesses, besides establishing additional branches in Jaipur. The company has a strategic target of Rs 100 crore in mutual fund assets under management, while evaluating future opportunities in PMS and AIF businesses, it added.