Nandan Denim Ltd withdraws preferential issue of 80 lakh warrants

The Board of Directors of Nandan Denim Ltd vide their circular resolution dated April 16, 2015, has considered thewithdrawal of the preferential issue of 80,00,000 Convertible Warrants of Rs. 80/- each to the Promoter and Non-Promoter Group, as approved by the shareholders of the Company through Postal Ballot Notice dated February 03, 2015.

The Board has further decided to plan a fresh Preferential Issue in Compliance with SEBI (ICDR) Regulations, 2009, Companies Act, 2013 and other applicable laws, rules and regulations, in due course and the Notice regarding the same shall be sent to the shareholders on approval by the Board.

Shares of Nandan Denim Limited was last trading in BSE at Rs.75.5 as compared to the previous close of Rs. 77.6. The total number of shares traded during the day was 114846 in over 1071 trades.

The stock hit an intraday high of Rs. 79 and intraday low of 75. The net turnover during the day was Rs. 8717057.

Source : Equity Bulls

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