Nibe Limited board approves fund raising proposals

The Board of Directors of Nibe Limited (Formerly Known as Kavita Fabrics Limited), at its Meeting held on January 03, 2023 has, considered and approved the proposal for fund raising upto to an amount of Rs. 1,044,049,285(Rupees One Hundred Four Crores Forty Lacs Forty Nine Thousand Two Hundred and Eighty Five Only) by way of private placement and preferential issue.

The board approved issue of upto 1,696,026 (Sixteen Lacs Ninety Six Thousand and Twenty Six) Equity Shares of the Company having face value of Rs. 10/- (Rupees Ten) each at a price of Rs. 365/- per share (including premium of Rs. 355/- per share) aggregating upto Rs. 619,049,490 (Rupees Sixty One Crores Ninety Lacs Forty Nine Thousand Four Hundred and Ninety Only) to the Investors falling under the Non Promoter category on preferential basis through private placement subject to the approval of Members of the Company.

The board also approved issue of upto 1,164,383 (Eleven Lacs Sixty Four Thousand Three Hundred and Eighty Three) convertible Warrants at a price of Rs. 365/- per Warrant with a right to the Warrant holders to apply for and be allotted 1 (One) Equity Share of the face value of Rs. 10/- (Rupees Ten) each of the Company at a premium of Rs. 355/- per share aggregating upto Rs. 424,999,795(Rupees Forty Two Crores Forty Nine Lacs Ninety Nine Thousand Seven Hundred and Ninety Five Only) to the entities falling under Promoter and Non Promoter Category on preferential basis through private placement subject to approval of the Members of the Company.

Shares of NIBE Ltd was last trading in BSE at Rs. 416.10 as compared to the previous close of Rs. 406.55. The total number of shares traded during the day was 23474 in over 394 trades.

The stock hit an intraday high of Rs. 419.40 and intraday low of 404.60. The net turnover during the day was Rs. 9705770.00.

Source : Equity Bulls

Keywords

NIBE INE149O01018 FundRaising PrivatePlacement PreferentialIssue