Suditi Industries Ltd to set up garment unit at Vapi, Gujarat

The Board of Directors of Suditi Industries Ltd. (Script Code 521113) at its meeting held today have considered and approved the proposal to setup the Garment Unit at Vapi, Gujarat state.

The board considered and approved the proposal to Increase the Authorized Share Capital from Rs. 25,00,00,000 (Rupees Twenty Five Crore) comprising of 2,50,00,000 (Two Crore Fifty Lakh) equity share of Rs. 10/-(Rupees Ten) each To Rs. 30,00,00,000 (Rupees Thirty Crore) comprising of 3,00,00,000 (Three Crore) equity share of Rs. 10/-(Rupees Ten) each of the Company subject to the approval of the Shareholders of the Company in the forthcoming Annual General Meeting.

The Board has considered and taken on record the Right issue offer made by the subsidiary company M/s. Suditi Sports Apparel Limited. Accordingly the board has considered the investment of Rs. 1,16,00,000/- in 11,60,000 Equity Shares of Rs. 10 each offered at par.

The board also considered and approved the proposal to shift the registered office of the Company from "Shah & Nahar Ind Estate A-2unit No 23/24, Dhanraj Mills Compound, Lower Parcel, Mumbai, Maharashtra 400013 India." To "C-253/254, MIDC, TTC INDL. Area, Pawne Village, Turbhe, Navi Mumbai - 400 705" subject to the approval of the Shareholders of the Company in the forthcoming Annual General Meeting.

Shares of Suditi Industries Ltd. was last trading in BSE at Rs. 15.9 as compared to the previous close of Rs. 15.9. The total number of shares traded during the day was 504 in over 2 trades.

The stock hit an intraday high of Rs. 15.9 and intraday low of 15.15. The net turnover during the day was Rs. 8010.

Source : Equity Bulls

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