19-Aug-2026Today's Market Indicators


Safa Systems secures board approval for share allotment and potential Rs 500 crore borrowing
(16:05, 19 Aug 2026)
Safa Systems & Technologies Limited approved a preferential allotment of up to 23,90,000 equity shares at Rs 20.47 per share to promoters and members of the promoter group for an aggregate consideration not exceeding Rs 4,89,23,300, according to a regulatory filing on Wednesday. The board also approved a power to borrow funds not exceeding Rs 500 crore and approved the waiver of excess managerial remuneration paid to Mr. Faizal Bavaraparambil Abdul Khader and Ms. Sruthi Muhammed Ali. Additionally, the company plans to shift its registered office from Kerala to the National Capital Territory of Delhi, subject to shareholder and government approvals.