Sadhana Nitro Chem Ltd approves issue of CNCPS

The Board of Directors of Sadhana Nitro Chem Ltd at its meeting held on November 27, 2014, has approved the increase in Capital from 11,00,00,000/- (Rupees Eleven Crores Only) divided into 92,50,000 (Ninety Two Lacs Fifty Thousand) equity shares of Rs. 10/- (Rupees Ten) each and 17,50,000 (Seventeen Lacs Fifty Thousand) Preference Shares of Rs. 10/- (Rupees Ten) each to Rs. 21,00,00,000/- (Rupees Twenty One Crore only) divided into 92,50,000 (Ninety Two Lacs Fifty Thousand) equity shares of Rs. 10/- (Rupees Ten) each and 1,17,50,000 (One Crore Seventeen Lakhs and Fifty Thousand) Preference Shares of Rs. 10/- (Rupees Ten) each, subject to approval of shareholders.

Subject to the approval of the shareholders of the Company, the company board also approved the proposal to make private placement of 9% Cumulative Non Convertible Preference Shares by way of preferential issue to Promoters and/or Promoter Group and/or the Holding Company.

Shares of SADHANA NITROCHEM LTD. was last trading in BSE at Rs.14 as compared to the previous close of Rs. 16.6. The total number of shares traded during the day was 416 in over 8 trades.

The stock hit an intraday high of Rs. 14 and intraday low of 13.45. The net turnover during the day was Rs. 5627.

Source : Equity Bulls

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