The Indian Card Clothing Company Limited board approves preferential issue

The Board of Directors ("Board") of The Indian Card Clothing Company Limited at its meeting held today which commenced at 11:00 a.m. and concluded at 12:00 noon, has considered and approved the issue of Equity Shares on preferential & private placement basis.

The board approved oOffer and issue upto 13,90,000 fully paid-up equity shares of face value of Rs. 10/- at Rs. 105/- (Rupees One Hundred Five Only) [including a premium of Rs. 95/-] per equity share, to Multi-Act Industrial Enterprises Limited ("MAIEL"), Mauritius, the holding Company belonging to promoter category of the Company, by way of a Preferential Issue, subject to receipt of requisite regulatory/statutory approvals including approval of the members of the Company by way of Special Resolution at its forthcoming 66th Annual General Meeting in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations"), as amended and applicable provisions of the Companies Act, 2013 and rules made thereunder.

Shares of INDIAN CARD CLOTHING CO.LTD. was last trading in BSE at Rs.91 as compared to the previous close of Rs. 95.4. The total number of shares traded during the day was 500 in over 33 trades.

The stock hit an intraday high of Rs. 92.75 and intraday low of 91. The net turnover during the day was Rs. 45835.

Source : Equity Bulls

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