Nandan Denim Ltd allots Convertible Warrants to Polus Global Fund on Preferential Basis

Pursuant to the approval given by the shareholders at the Annual General Meeting of Nandan Denim Ltd held on September 29, 2015 and further to the In-Principle Approval granted by BSE Limited and National Stock Exchange of India Limited for issue and allotment of 25,00,000 Fully Convertible Warrants, the Preferential Allotment Committee of the Board of Directors for preferential issue of warrants, at its meeting held November 10, 2015, has allotted 25,00,000 (Twenty Five Lakh) Fully Convertible Warrants to Polus Global Fund on preferential basis which shall entitle the warrant holder to acquire equivalent number of equity shares of Rs. 10/- each of the Company at a conversion price of Rs. 200/- per equity share.

Shares of Nandan Denim Limited was last trading in BSE at Rs.127.2 as compared to the previous close of Rs. 122.1. The total number of shares traded during the day was 247019 in over 1790 trades.

The stock hit an intraday high of Rs. 132.4 and intraday low of 120.6. The net turnover during the day was Rs. 31281639.

Source : Equity Bulls

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