Nandan Denim Limited Board recommends 2:1 Bonus Issue

The Board of Directors of the Company at its meeting held on February 10, 2022 has recommended issue of Bonus Shares in the proportion of 2 (Two) Equity Shares of Rs. 10/- (Rupees Ten Only) each for every 1 (One) Equity Share of Rs. 10/- (Rupees Ten Only) each held by shareholders of the Company as on the Record Date, subject to the approval of members and other approvals, consents, permissions, conditions and sanctions, as may be necessary. The Record Date for reckoning eligible shareholders entitled to received bonus shares will be announced later.

The board has also approved increase in Authorized Share Capital of the Company from Rs. 100,00,00,000/- (Rupees Hundred Crore Only) divided into 10,00,00,000 (Ten Crore Only) Equity Shares of Face Value of Rs. 10/- (Rupees Ten Only) each to, 150,00,00,000/- (Rupees One Hundred Fifty Crores Only) divided into 15,00,00,000 (Fifteen Crores Only) Equity Shares of Rs. 10/- (Rupees Ten Only), by way of creation of an additional Rs. 50,00,00,000/- (Rupees Fifty Crores Only) divided into 5,00,00,000/- (Five Crore Only) Equity Shares of Rs. 10/­ (Rupees Ten only) each, ranking pari-passu in all respect with existing Equity Shares of the Company and consequent amendment to Clause V of the Memorandum of Association of the Company, subject to the approval of Members.

Shares of Nandan Denim Limited was last trading in BSE at Rs. 149.00 as compared to the previous close of Rs. 146.80. The total number of shares traded during the day was 17345 in over 636 trades.

The stock hit an intraday high of Rs. 154.10 and intraday low of 146.00. The net turnover during the day was Rs. 2598638.00.

Source : Equity Bulls

Keywords

NandanDenim INE875G01030 BonusIssue