Sadhana Nitro Chem Ltd approves allotment of 8,23,52,605 equity shares on rights basis

The Finance and Admin Committee (the "Committee") of Sadhana Nitro Chem Ltd in its meeting held on October 11, 2024 passed the resolution for considering and approving the allotment of 8,23,52,605 fully paid up Equity Shares at an issue price of ₹ 6.06 per Equity Share (including a premium of ₹ 5.06 per Equity Share) to eligible equity shareholders or applicants (renouncee), as the case may be pursuant to the Rights Issue. Further, 213 (Two Hundred and Thirteen) Rights Equity Shares have been kept in abeyance pending regulatory / other clearances, as may be applicable.

Accordingly, the paid-up equity share capital of the Company has been increased from Rs.24,70,58,452 to Rs.32,94,11,057 by addition of 8,23,52,605 equity shares.

The said fully paid-up Equity Shares allotted to eligible equity shareholders or applicants (renouncee), as the case may be, shall rank pari-passu in all respect with the existing fully paid-up Equity Shares of the Company.

The said fully paid-up Equity Shares allotted to eligible equity shareholders or applicants (renouncee), as the case may be, shall rank pari-passu in all respect with the existing fully paid-up Equity Shares of the Company.

Shares of SADHANA NITROCHEM LTD. was last trading in BSE at Rs. 53.25 as compared to the previous close of Rs. 53.99. The total number of shares traded during the day was 25667 in over 408 trades.

The stock hit an intraday high of Rs. 54.75 and intraday low of 52.85. The net turnover during the day was Rs. 1367047.00.

Source : Equity Bulls

Keywords

SADHANANITROCHEM INE888C01040 SharesAllotment RightsIssue