Chandni Textiles to issue 6250000 shares

Chandni Textiles Ltd has announced that the Board of Directors of the Company at its meeting held on October 08, 2009, inter alia, has approved the issue of 62,50,000 Equity Shares to the strategic Investor groups, on preferential basis in terms of SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2009, at a price of Rs. 16/- per share of the Equity Share of Rs. 10/- each, at a premium of Rs. 6/- per share.

The Board approved proposal to commence dealing in all types of machinery. At present the Company is dealing in textile machineries only.

The Board also approved convening Extra Ordinary General Meeting of the members of the Company on November 05, 2009, to seek approval for the above proposals.

The stock closed the day at Rs.15, down by Rs.0.05 or 0.33%. The stock hit an intraday high of Rs.16 and low of Rs.14.15.

The total traded quantity was 2985 compared to 2 week average of 11194.

Source : Equity Bulls

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