The Board of Directors of Nakoda Group of Industries Limited in their meeting held today 15th January, 2022 have considered and approved the fund raising and issuance of fully paid equity shares of the company for an amount not exceeding Rs. 49 Crores (Rupees Forty Nine Crores) by way of a right issue to the eligible equity shareholders of the company as on the record date (to be determined and informed subsequently), in accordance with applicable laws, including the Securities Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, subject to such approvals, as may be required under the applicable laws ("Right Issue"). For the purpose of giving effect to the Right issue, the detailed terms in relation to the Right issue, including but not limiting to the issue price, issue size, rights entitlement ratio, record date, timing and terms of payment will be determined in due course.
The board approved proposal to increase Authorized Share Capital of the company from the present Rs. 15,00,00,000/- (Rupees Fifteen Crores only) divided into 1,50,00,000 (One Crore Fifty Lakh) Equity Shares having face value of Rs. 10/- each share to 20,00,00,000/- (Rupees Twenty Crores only) divided into 2,00,00,000 (Two Crores only) Equity Shares having face value of Rs. 10/- each share and the consequential changes in Clause V of the Memorandum of Association of the company, subject to approval of the members in ensuing Extra Ordinary General Meeting.
The board authorized company to borrow money upto INR 50 Crores (Indian Rupees Fifty Crores) subject to approval of the members of the company in the Extra Ordinary General Meeting.
Shares of Nakoda Group of Industries Ltd was last trading in BSE at Rs. 292.35 as compared to the previous close of Rs. 290.40. The total number of shares traded during the day was 449 in over 22 trades.
The stock hit an intraday high of Rs. 303.95 and intraday low of 276.10. The net turnover during the day was Rs. 132284.00.